Cathie Wood's ARKK Trims Roku Stake Following 42% Post-Earnings Surge
Portfolio Pulse from Shanthi Rexaline
Ark Invest, led by Cathie Wood, sold 171,268 shares of Roku, Inc. (NASDAQ:ROKU) through its Ark Innovation ETF (NYSE:ARKK), following Roku's post-earnings surge. Despite the sale, Roku remains ARKK's top holding. Roku is also part of Ark's Ark Next Generation Internet ETF (NYSE:ARKW) and ARK Fintech Innovation ETF (NYSE:ARKF). Roku's Q3 revenue exceeded expectations, but the EPS loss was wider than expected.
November 07, 2023 | 2:09 pm
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NEGATIVE IMPACT
Ark Invest sold a portion of its Roku shares following the company's Q3 earnings report. Despite the sale, Roku remains a significant holding in several Ark ETFs.
The sale of Roku shares by Ark Invest could potentially lead to a short-term decrease in Roku's stock price. However, Roku's strong Q3 revenue and its continued presence in Ark's ETFs suggest a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Roku remains a part of Ark's ARK Fintech Innovation ETF, which could be influenced by Roku's future performance.
As Roku remains a part of ARKF, the ETF's performance could be influenced by Roku's future performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 75
NEUTRAL IMPACT
Ark Innovation ETF sold a portion of its Roku shares, but Roku remains its top holding. The ETF's performance may be influenced by Roku's future performance.
The sale of Roku shares by ARKK could impact the ETF's short-term performance. However, as Roku remains ARKK's top holding, the ETF's performance will likely continue to be influenced by Roku's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Roku remains a part of Ark's Ark Next Generation Internet ETF, which could be influenced by Roku's future performance.
As Roku remains a part of ARKW, the ETF's performance could be influenced by Roku's future performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 75