Tesla Bull Cathie Wood's Ark Invest Buys $7.16M Worth Of EV Maker's Shares After Q2 Earnings Reveal Profits Tanked Sharply (Corrected)
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made significant trades involving Tesla Inc (TSLA) and other companies. Despite Tesla's recent financial challenges, Ark Invest's ARK Next Generation Internet ETF (ARKW) acquired $7.16 million worth of Tesla shares. Tesla's Q2 earnings showed a revenue beat but an EPS miss, with automotive revenue dropping 7% YoY. Ark Invest also made trades involving MercadoLibre Inc, Toast Inc, 10X Genomics Inc, Teladoc Health Inc, and Oklo Inc.
July 25, 2024 | 1:55 am
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POSITIVE IMPACT
ARK Next Generation Internet ETF (ARKW) acquired 33,143 shares of Tesla, valued at approximately $7.16 million, showing confidence in Tesla's long-term prospects despite recent financial challenges.
The acquisition of Tesla shares by ARKW demonstrates confidence in Tesla's future, which could positively impact ARKW's performance and attract more investors to the ETF.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Ark Invest's ARKW acquired $7.16 million worth of Tesla shares despite the company's recent financial challenges, including a 7% YoY drop in automotive revenue and an EPS miss in Q2.
Despite Tesla's recent financial challenges, Ark Invest's significant purchase indicates strong confidence in the company's long-term prospects. This could positively influence investor sentiment and support TSLA's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100