Cathie Wood-Led Ark Invest Sells $8M In Tesla Shares Despite Bullish Autonomy Forecast
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest sold $8 million worth of Tesla shares despite a bullish forecast on Tesla's potential in the autonomous taxi sector. The ARK Next Generation Internet ETF sold 32,199 shares of Tesla. Additionally, Ark Invest's Genomic Revolution ETF bought shares of Guardant Health, 10X Genomics, and Beam Therapeutics, while the ARKW fund also bought shares of GitLab.
July 19, 2024 | 2:12 am
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POSITIVE IMPACT
Both ARKG and ARKK purchased shares of Beam Therapeutics Inc.
The acquisition of Beam Therapeutics shares by both ARKG and ARKK suggests strong confidence in the company's future, likely resulting in a short-term increase in its stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Invest’s Genomic Revolution ETF bought shares of Guardant Health Inc.
The purchase of Guardant Health shares by ARKG suggests a positive outlook on the company's future, potentially leading to a short-term increase in its stock price.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
The ARKW fund bought shares of GitLab Inc.
The purchase of GitLab shares by ARKW indicates a positive outlook on the company's future, potentially leading to a short-term rise in its stock price.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ark Invest’s Genomic Revolution ETF bought shares of 10X Genomics Inc.
The purchase of 10X Genomics shares by ARKG indicates a positive sentiment towards the company's prospects, likely leading to a short-term rise in its stock price.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
The ARK Next Generation Internet ETF sold 32,199 shares of Tesla, valued at approximately $8.02 million.
The sale of Tesla shares by ARKW may indicate a reallocation of assets or profit-taking, which could have a short-term negative impact on the ETF's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold $8 million worth of Tesla shares despite a bullish forecast on Tesla's potential in the autonomous taxi sector.
The sale of Tesla shares by Ark Invest, despite a positive outlook on Tesla's future in the autonomous taxi market, may signal a short-term bearish sentiment or profit-taking, potentially leading to a short-term decline in Tesla's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100