Cathie Wood-Lead Ark Invest Dumps $7.6M Worth Of Robinhood Shares Amid GameStop Buzz, Bitcoin Choppiness
Portfolio Pulse from Benzinga Neuro
Cathie Wood-led Ark Invest sold $7.6 million worth of Robinhood shares amid market fluctuations, including meme stock activity and cryptocurrency volatility. The sales were executed through three of Ark's ETFs: ARKF, ARKK, and ARKW. Other trades included sales of Exact Sciences, Teladoc Health, and Verve Therapeutics shares, and purchases of Arcturus Therapeutics, Intellia Therapeutics, and Veracyte shares.
June 11, 2024 | 2:28 am
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NEGATIVE IMPACT
ARK Fintech Innovation ETF sold 31,827 shares of Robinhood.
The sale of Robinhood shares by ARKF may lead to a short-term decline in the ETF's value due to reduced exposure to Robinhood.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ARK Innovation ETF sold 215,675 shares of Robinhood.
The sale of Robinhood shares by ARKK may lead to a short-term decline in the ETF's value due to reduced exposure to Robinhood.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ARK Next Generation Internet ETF sold 76,299 shares of Robinhood.
The sale of Robinhood shares by ARKW may lead to a short-term decline in the ETF's value due to reduced exposure to Robinhood.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold shares of Exact Sciences via ARKG and ARKK.
The sale of Exact Sciences shares by Ark Invest may lead to a short-term decline in the stock price due to reduced institutional support.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest sold $7.6 million worth of Robinhood shares amid market volatility and meme stock activity.
The sale of a significant amount of shares by a prominent investor like Ark Invest can negatively impact investor sentiment and lead to a short-term decline in Robinhood's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest sold shares of Teladoc Health via ARKG.
The sale of Teladoc Health shares by Ark Invest may lead to a short-term decline in the stock price due to reduced institutional support.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest sold shares of Verve Therapeutics via ARKG and ARKK.
The sale of Verve Therapeutics shares by Ark Invest may lead to a short-term decline in the stock price due to reduced institutional support.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ark Invest purchased shares of Arcturus Therapeutics via ARKG.
The purchase of Arcturus Therapeutics shares by Ark Invest may lead to a short-term increase in the stock price due to increased institutional support.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ark Invest bought shares of Intellia Therapeutics via ARKG and ARKK.
The purchase of Intellia Therapeutics shares by Ark Invest may lead to a short-term increase in the stock price due to increased institutional support.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ark Invest bought 5,804 shares of Veracyte via ARKG and shares via ARKK.
The purchase of Veracyte shares by Ark Invest may lead to a short-term increase in the stock price due to increased institutional support.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60