Cathie Wood's Ark Continues Tesla Stock Buying Spree, Acquires Over $14M Worth Of Shares Amid Dip
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest has continued its buying spree of Tesla Inc. (TSLA) shares, acquiring over $14M worth amid a stock price dip. Ark's ETFs, ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW), bought significant amounts of TSLA shares. Additionally, Ark made other key trades, including selling Coinbase Global Inc (COIN) shares and engaging in transactions involving Roblox Corp (RBLX), Robinhood Markets Inc (HOOD), Twist Bioscience Corp (TWST), Personalis Inc (PSNL), UiPath Inc (PATH), and Kratos Defense & Security (KTOS).
March 29, 2024 | 2:09 am
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NEGATIVE IMPACT
Ark Invest sold 15,693 shares of Coinbase Global Inc, worth approximately $4.16 million.
The sale of Coinbase shares by Ark Invest could indicate a strategic shift or a response to market conditions, potentially affecting investor perception and COIN's short-term price movement negatively.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold shares of Robinhood Markets Inc, part of its portfolio adjustments.
The sale of Robinhood shares by Ark Invest could reflect a strategic portfolio realignment or concerns about the company's outlook, potentially impacting HOOD's stock price negatively in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest's ARKQ fund sold shares of UiPath Inc, indicating a possible strategic shift.
The sale of UiPath shares by Ark's ARKQ fund may reflect a reassessment of its investment strategy or outlook on the company, potentially impacting PATH's stock price negatively.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ark Invest's ARKQ fund bought shares of Kratos Defense & Security, showing confidence in the defense sector.
The purchase of Kratos Defense & Security shares by Ark's ARKQ fund suggests a positive view on the defense sector and KTOS's potential, likely to positively affect its stock price in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ark Invest's ARKG fund bought shares of Personalis Inc, aligning with its focus on genomic innovation.
The investment in Personalis by Ark's ARKG fund underscores a bullish view on genomic technologies and PSNL's potential, likely benefiting its stock price in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ark Invest's ARKF fund bought shares of Roblox Corp, indicating a positive outlook on the company.
The purchase of Roblox shares by Ark Invest's ARKF fund suggests optimism about the company's future prospects, which could positively influence RBLX's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Invest purchased over $14M worth of Tesla shares, indicating a strong belief in Tesla's future despite recent price dips.
The substantial investment by Ark Invest in Tesla, especially during a dip, suggests a bullish outlook on Tesla's future performance and innovations, potentially influencing investor sentiment positively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ark Invest's ARKG fund purchased shares of Twist Bioscience Corp, showing interest in the biotech sector.
The acquisition of Twist Bioscience shares by Ark Invest's ARKG fund indicates a positive stance on the biotech industry and TWST's role in it, likely to have a favorable impact on its stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60