Cathie Wood Continues To Sell Shares Of Jack Dorsey's Bitcoin-Focused Company Block — Ark Also Dumps Moderna, Robinhood Stock
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest sold shares of Block Inc, Moderna Inc, and Robinhood Markets Inc, while purchasing shares of Intellia Therapeutics, CRISPR Therapeutics, and Tempus AI. These trades reflect strategic adjustments in Ark's investment portfolio.
October 17, 2024 | 3:19 am
News sentiment analysis
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NEGATIVE IMPACT
Ark Invest sold 46,186 shares of Moderna Inc, following the company's post-Covid roadmap announcement.
The sale of Moderna shares by Ark Invest may indicate a lack of confidence in the company's post-Covid strategy, potentially leading to short-term negative sentiment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Ark Invest sold 23,473 shares of Block Inc, despite its positive Q2 results, marking the second consecutive day of selling.
The sale of Block shares by Ark Invest, despite positive quarterly results, suggests a bearish outlook or profit-taking strategy, likely leading to short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Ark Invest offloaded 2,636 shares of Robinhood Markets Inc amid the company's expansion into futures and index options trading.
The sale of Robinhood shares by Ark Invest comes as the company expands its trading offerings. The impact on stock price is uncertain as the expansion could offset the negative sentiment from the sale.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70