Cathie Wood's Ark Offloads $12.24M In Tesla Shares Ahead Of Q2 Earnings: What Investors Should Know
Portfolio Pulse from Shanthi Rexaline
Cathie Wood's Ark Invest sold $12.24 million worth of Tesla shares ahead of Tesla's Q2 earnings report. Despite the sale, Tesla remains the top holding in Ark's flagship ETF, ARKK. Analysts expect Tesla's earnings per share to drop significantly compared to last year.
July 22, 2024 | 9:47 am
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NEGATIVE IMPACT
ARKK, Ark Invest's flagship ETF, remains heavily invested in Tesla despite recent sales. The ETF's performance may be impacted by Tesla's upcoming Q2 earnings report.
ARKK's heavy investment in Tesla means its performance is closely tied to Tesla's stock price. With analysts expecting a drop in Tesla's EPS, ARKK could see a short-term negative impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ARKW, another ETF managed by Ark Invest, sold 49,806 Tesla shares, fetching $12.24 million. The ETF's performance may be influenced by Tesla's upcoming Q2 earnings report.
The sale of Tesla shares by ARKW indicates a cautious approach ahead of Tesla's Q2 earnings. The ETF's performance could be negatively impacted if Tesla's earnings disappoint.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest sold $12.24 million worth of Tesla shares ahead of the company's Q2 earnings report. Analysts expect a significant drop in earnings per share compared to last year.
The sale of Tesla shares by a prominent investor like Cathie Wood's Ark Invest ahead of earnings suggests a lack of confidence in the upcoming report. Analysts also expect a significant drop in EPS, which could negatively impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100