Cathie Wood's Ark Invest Sells Another Tranche Of Block Shares, Even As Bitcoin Price Stages A Recovery
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest sold shares of Block Inc (SQ) worth $3.5 million through ARKK and ARKW ETFs, amidst a Bitcoin price recovery. The sale is part of a week-long trend, totaling $19.95 million in Block shares sold. Additionally, Ark Invest made purchases in Cerus Corp (CERS), Personalis Inc (PSNL), and Moderna Inc (MRNA), while selling Twilio Inc (TWLO) shares.
March 21, 2024 | 3:40 am
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POSITIVE IMPACT
Ark Invest purchased shares of Cerus Corp, diversifying its investment portfolio.
The purchase of Cerus Corp shares by Ark Invest could indicate a positive outlook on the company, potentially leading to a short-term positive impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest bought shares of Moderna Inc through its ARKK fund, indicating confidence in the biotech firm.
The acquisition of Moderna Inc shares through the ARKK fund reflects Ark Invest's positive view on the company, suggesting a short-term positive impact on MRNA's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest acquired shares of Personalis Inc, expanding its investment in the healthcare sector.
Ark Invest's decision to buy Personalis Inc shares suggests a bullish stance on the company, likely resulting in a short-term positive impact on PSNL's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
ARKK ETF was used by Ark Invest to sell shares of Block Inc as part of its portfolio adjustment.
The sale of Block Inc shares through the ARKK ETF reflects portfolio adjustments rather than a direct impact on ARKK's performance, suggesting a neutral short-term impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
ARKW ETF participated in the sale of Block Inc shares, indicating portfolio management activities.
Similar to ARKK, the involvement of ARKW in selling Block Inc shares is part of portfolio management, likely having a neutral short-term impact on the ETF's performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest sold $3.5 million worth of Block Inc shares, continuing a week-long selling trend totaling $19.95 million.
The continued sale of Block Inc shares by Ark Invest, especially during a Bitcoin price recovery, could signal a lack of confidence in the stock, potentially influencing a short-term negative impact on its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ark Invest sold shares of Twilio Inc from both ARKK and ARKW portfolios, adjusting its tech holdings.
The sale of Twilio Inc shares by Ark Invest could reflect a strategic adjustment or a less favorable outlook on the company, potentially leading to a short-term negative impact on TWLO's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80