Cathie Wood-Led Ark Invest Sells Over $6.5M Worth Of Tesla Stock, What's Going On?
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, sold over $6.5 million worth of Tesla Inc shares through its Ark Innovation ETF. This comes amid Tesla's rebound ahead of its Q3 results announcement. Ark has been selling Tesla shares since mid-June, despite remaining bullish about its prospects. Ark also made trades in CRISPR Therapeutics AG, Nurix Therapeutics Inc, and Ionis Pharmaceuticals Inc.
October 18, 2023 | 1:52 am
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POSITIVE IMPACT
Ark Invest bought 200,999 shares of CRISPR Therapeutics AG.
The purchase of a significant number of shares by Ark Invest could potentially drive the stock price of CRISPR Therapeutics AG up in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Invest added 78,591 shares of Nurix Therapeutics Inc to its portfolio.
The purchase of a substantial number of shares by Ark Invest could potentially boost the stock price of Nurix Therapeutics Inc in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Ark Innovation ETF, managed by Ark Invest, sold Tesla shares and made trades in other companies.
The ETF's trading activities could influence the price of its own shares, but the impact is likely to be distributed across its diverse portfolio.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold 48,500 shares of Ionis Pharmaceuticals Inc.
The sale of a significant number of shares by Ark Invest could potentially impact the stock price of Ionis Pharmaceuticals Inc negatively in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest sold over $6.5 million worth of Tesla shares, continuing a trend since mid-June.
The sale of Tesla shares by Ark Invest, a significant investor, could potentially impact the stock's price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100