Cathie Wood Shuffles Her Tech Deck: Continues Dumping Tesla And Palantir, Stocks Up On AMD And Meta
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made significant trades, selling Tesla and Palantir shares while buying AMD and Meta. Ark sold 62,151 Tesla shares and 372,730 Palantir shares, while purchasing 111,080 AMD shares and 3,426 Meta shares. These moves reflect strategic shifts in Ark's investment focus.
October 31, 2024 | 1:43 am
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NEGATIVE IMPACT
Ark Invest sold 372,730 shares of Palantir, valued at approximately $16.3 million, despite Palantir's recent 52-week high.
The sale of Palantir shares by Ark Invest suggests a bearish short-term outlook, despite the stock's recent performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Ark Invest sold 62,151 shares of Tesla, valued at approximately $16 million, despite Tesla's potential in the driverless ride-hailing market.
The sale of a significant number of Tesla shares by Ark Invest suggests a bearish short-term outlook, despite Tesla's future potential in the driverless market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Ark Invest purchased 111,080 shares of AMD, valued at approximately $16.5 million, following AMD's strong Q3 earnings report.
The purchase of AMD shares by Ark Invest indicates a positive short-term outlook, supported by AMD's strong Q3 earnings.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Ark Invest purchased 3,426 shares of Meta, valued at approximately $2.03 million, indicating a positive outlook on the stock.
The purchase of Meta shares by Ark Invest suggests a positive short-term outlook, reflecting confidence in the company's prospects.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70