Cathie Wood's Ark Invest Loads Up On Robinhood Shares Amid Trading Platform's Q2 Revenue Beat, Also Shops For Amazon, Reddit And AMD Stock (CORRECTED)
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made significant trades in Amazon, Robinhood, Reddit, and AMD. Amazon showed strong AWS growth but weak retail revenues. Robinhood surpassed Q2 revenue estimates with a 40% YoY increase. Reddit impressed with 91 million DAUs but faced potential volatility. AMD exceeded earnings expectations.
August 08, 2024 | 3:17 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Ark Invest bought 3,579 shares of Amazon. Despite strong AWS growth, Amazon's retail revenues were weak, leading analysts to lower price targets.
Amazon's strong AWS performance is offset by weak retail revenues, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Ark Invest bought 40,148 shares of Reddit. The company reported 91 million DAUs and $281 million in revenue, but faces potential volatility from an upcoming lock-up expiration.
While Reddit's performance is strong, potential volatility from a lock-up expiration creates a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Invest bought 5,796 shares of AMD. The company exceeded Q2 earnings expectations with 69 cents per share and $5.835 billion in sales.
AMD's strong Q2 earnings performance is likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Ark Invest bought 145,420 shares of Robinhood. The company reported a 40% YoY revenue increase, surpassing estimates, with strong transaction revenue growth.
Robinhood's strong Q2 performance and revenue growth are likely to positively impact its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90