Cathie Wood-Led Ark Invest Buys $9.9M Worth Of Amazon Shares, Also Picks Up Reddit Stock
Portfolio Pulse from Benzinga Neuro
Cathie Wood-led Ark Invest made significant trades in Amazon.com Inc (AMZN) and Reddit Inc (RDDT). Ark's ARKW fund purchased $9.9M worth of Amazon shares following Amazon's acquisition of NBA media rights. Ark's ARKF fund bought $83,200 worth of Reddit shares after Reddit's partnership with Sprinklr. Other trades include purchases of Intellia Therapeutics (NTLA) and PagerDuty (PD), and sales of Exact Sciences (EXAS), Verve Therapeutics (VERV), and ServiceNow (NOW).
June 07, 2024 | 2:25 am
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NEGATIVE IMPACT
Ark Invest's ARKG fund sold 12,602 shares of Exact Sciences, possibly indicating a shift in investment strategy.
The sale of Exact Sciences shares may indicate a shift in investment strategy or reduced confidence in the company's short-term prospects, potentially leading to a negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest's ARKW fund sold 14,121 shares of ServiceNow, possibly indicating a shift in investment strategy.
The sale of ServiceNow shares may indicate a shift in investment strategy or reduced confidence in the company's short-term prospects, potentially leading to a negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest's ARKK fund sold 126,699 shares of Verve Therapeutics, possibly indicating a shift in investment strategy.
The sale of Verve Therapeutics shares may indicate a shift in investment strategy or reduced confidence in the company's short-term prospects, potentially leading to a negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Invest's ARKW fund purchased $9.9M worth of Amazon shares following Amazon's acquisition of NBA media rights, expected to boost Prime Video subscribers.
The acquisition of NBA media rights is a strategic move that is likely to increase Amazon Prime Video subscribers, positively impacting Amazon's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ark Invest's ARKG fund bought 25,736 shares of Intellia Therapeutics, indicating confidence in the company's future prospects.
The purchase of Intellia Therapeutics shares suggests confidence in the company's future growth and potential, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest's ARKK fund bought 106,192 shares of PagerDuty, showing confidence in the company's growth potential.
The purchase of PagerDuty shares indicates confidence in the company's growth potential, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest's ARKF fund bought $83,200 worth of Reddit shares following Reddit's partnership with Sprinklr, enhancing Reddit's advertising capabilities.
The partnership with Sprinklr is expected to enhance Reddit's advertising capabilities, potentially increasing its revenue and positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100