Cathie Wood's Flurry Of Trades: Offloads $31.5M in Tesla, Buys Amazon, AMD And Meta — Dumps Palantir, Trims Robinhood And Square Amid Bitcoin Rally
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made significant trades involving Amazon, AMD, Meta, Tesla, Palantir, Robinhood, and Block. The trades included buying Amazon, AMD, and Meta shares, while selling Tesla, Palantir, Robinhood, and Block shares.
October 29, 2024 | 3:22 am
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POSITIVE IMPACT
Ark Invest bought 10,199 shares of AMD worth $1.63 million ahead of its Q3 earnings report, with expectations of strong EPS and revenue.
The purchase indicates a positive outlook on AMD's upcoming earnings, which could drive short-term stock price increases.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest purchased 141,504 shares of Amazon, valued at $26.65 million, following positive analyst predictions for revenue growth and margin expansion.
The purchase of a substantial number of Amazon shares by Ark Invest suggests confidence in Amazon's future performance, likely boosting short-term investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Ark Invest acquired shares of Meta Platforms worth $22.4 million, following reports of Meta's AI-powered search engine development.
The investment in Meta suggests confidence in its AI initiatives, potentially boosting investor sentiment and stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Ark Invest sold 7,555 shares of Robinhood, valued at $210,633, despite potential growth in cryptocurrency offerings.
The sale might reflect a cautious stance on Robinhood's future, potentially impacting short-term stock performance.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Ark Invest sold 128,908 shares of Palantir worth $5.8 million, following a recent 52-week high and strategic partnership announcement.
The sale of Palantir shares could signal a strategic shift, possibly affecting short-term investor sentiment negatively.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold 418,556 shares of Block valued at $31.2 million, despite positive analyst reviews of its Q2 results.
The sale suggests a strategic reallocation, which might lead to short-term downward pressure on Block's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Ark Invest sold 120,141 Tesla shares valued at $31.5 million despite strong Q3 earnings and a positive delivery outlook.
The sale of Tesla shares might indicate a strategic reallocation of assets, potentially leading to short-term price pressure.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 95