Cathie Wood's Ark Offloads $6.3M In Tesla Shares Amid EV Maker's Q3 Earnings Disappointment
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, sold nearly $6.3 million worth of Tesla Inc shares following the company's Q3 earnings disappointment. The sale was made through Ark’s flagship ARK Innovation ETF. Ark Invest also purchased shares of ROKU Inc, 10X Genomics Inc, and Intellia Therapeutics Inc, while selling shares of Shopify Inc.
October 19, 2023 | 1:58 am
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POSITIVE IMPACT
Ark Invest purchased shares of Intellia Therapeutics Inc, indicating a strong belief in the biotech sector's potential.
The purchase of Intellia Therapeutics shares by Ark Invest could indicate a positive outlook for the company's short-term performance, potentially leading to a positive impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Invest purchased shares of ROKU Inc, showing confidence in the streaming platform's growth prospects.
The purchase of ROKU shares by Ark Invest could indicate a positive outlook for the company's short-term performance, potentially leading to a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest purchased shares of 10X Genomics Inc, indicating a strong belief in the biotech sector's potential.
The purchase of 10X Genomics shares by Ark Invest could indicate a positive outlook for the company's short-term performance, potentially leading to a positive impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest sold shares of Shopify Inc, aligning with its strategy of portfolio rebalancing.
The sale of Shopify shares by Ark Invest could indicate a strategic move rather than a reflection on the company's performance, potentially leading to a neutral or negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest sold nearly $6.3 million worth of Tesla shares following the company's Q3 earnings disappointment.
The sale of Tesla shares by Ark Invest could indicate a lack of confidence in the company's short-term performance, potentially leading to a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100