Cathie Wood's Ark Ups Tesla Bet With $28M Stock Buy Amid Rebound, Also Loads Up On This Online Game Platform
Portfolio Pulse from Shanthi Rexaline
Cathie Wood's Ark Investment Management bought 163,421 Tesla Inc. (TSLA) shares valued at $28.21 million through its ETFs ARKK and ARKW, despite a recent rebound. Tesla's stock rose 1.05%, outperforming the S&P 500. Ark also increased holdings in Roku (ROKU), Roblox (RBLX), and Moderna (MRNA), with significant purchases in each. The buying spree comes amid anticipation of Tesla's Q1 deliveries and potential catalysts for Moderna.
March 26, 2024 | 6:25 am
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POSITIVE IMPACT
Ark Investment Management continues its buying spree of Moderna, with a recent purchase of 12,893 shares valued at $1.42 million, in anticipation of upcoming catalysts.
Ark's ongoing investment in Moderna suggests optimism about the company's future, particularly regarding its COVID-19 vaccine, which could lead to positive stock price movement as catalysts materialize.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Ark Investment Management acquired 740,115 Roblox shares, valued at $27.13 million, indicating a significant investment in the online game platform.
The substantial investment in Roblox by Ark highlights a strong conviction in the company's future prospects, likely to attract investor attention and positively influence the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Investment Management added 76,893 Roku shares to its portfolio, valued at $4.97 million, as part of its continued investment in favored stocks.
The investment in Roku by Ark signifies ongoing support and a positive outlook for the company, which could lead to increased investor interest and potentially a positive impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Investment Management bought 163,421 Tesla shares valued at $28.21 million, indicating strong confidence despite a recent rebound and a downgrade from Mizuho Securities.
The purchase by Ark Investment suggests a bullish outlook on Tesla, potentially influencing investor sentiment positively despite recent concerns over the electric vehicle market and a downgrade.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90