Cathie Wood's Ark Invest Sells $5.7M Of Robinhood Shares As Bitcoin Surge Ignites Crypto Market — Buys Stock Of Nvidia Rival AMD
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest sold $5.7M of Robinhood shares amid a Bitcoin surge, while buying AMD stock. Ark's ETFs offloaded 210,374 Robinhood shares, despite the company's recent positive earnings and upcoming investor day. Ark also made trades involving Markforged, Materialise, and Blade Air Mobility.
October 15, 2024 | 3:17 am
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NEGATIVE IMPACT
Ark Fintech Innovation ETF sold 14,458 shares of Robinhood, part of a larger sell-off by Ark Invest.
The sale of Robinhood shares by ARKF is part of Ark Invest's broader strategy, indicating a potential short-term negative impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Innovation ETF sold 181,900 shares of Robinhood, contributing to Ark Invest's significant sell-off.
The sale of Robinhood shares by ARKK is part of Ark Invest's broader strategy, suggesting a potential short-term negative impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Next Generation Internet ETF sold 14,016 shares of Robinhood, part of Ark Invest's broader sell-off.
The sale of Robinhood shares by ARKW is part of Ark Invest's broader strategy, indicating a potential short-term negative impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest sold 210,374 shares of Robinhood, totaling $5.7M, despite the company's positive earnings and upcoming investor day.
The sale of a significant number of Robinhood shares by Ark Invest suggests a bearish outlook, despite Robinhood's recent positive earnings and upcoming investor day. This could lead to a short-term decline in Robinhood's stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Ark Invest purchased shares of AMD, indicating a positive outlook for the company.
The purchase of AMD shares by Ark Invest suggests a positive outlook for the company, potentially leading to a short-term increase in its stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70