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On Wed, 23 Oct, 8:04 AM UTC
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Cathie Wood-Led Ark Dumps $5.8M Worth Of Robinhood Shares Amid Forecasts Of A Potential Rally From Analysts - ARK Next Generation Internet ETF (ARCA:ARKW), ARK Innovation ETF (ARCA:ARKK)
On Tuesday, Cathie Wood's Ark Invest made significant trades, with a notable sell-off in Robinhood Markets Inc HOOD. The Robinhood Trade Ark Invest sold a total of 210,483 shares of Robinhood from its ARK Innovation ETF ARKK and ARK Next Generation Internet ETF ARKW, marking a significant reduction in its holdings of the stock. The value of this trade, based on Robinhood's closing price of $27.41 on Tuesday, is approximately $5.8 million. This move comes amidst a backdrop of changing analyst forecasts for Robinhood, with some predicting a potential rally of around 12% for the stock. However, this isn't the first time that Ark Invest has reduced its stake in Robinhood. Earlier in the week, Cathie Wood had already trimmed Ark's holdings in the company, sparking discussions among investors about whether to follow her lead or stay put. As Benzinga noted, the reasons behind selling a stock can be varied and often more nuanced than market reactions might suggest. See Also: Investors Lost Over 95% Of Their Wealth In This Nvidia-Linked ETF While Jensen Huang-Led Chip Giant Gained 220% In The Past Year: Here's More Other Key Trades: Ark Invest sold 34,392 shares of Moderna Inc (MRNA) from its ARKG fund. The firm bought shares of Tempus AI Inc (TEM) for its ARKG fund and ARKK fund. Ark purchased 7,609 shares of CRISPR Therapeutics AG (CRSP) for its ARKG fund and also for its ARKK fund. The investment manager also added shares of Cerus Corp (CERS) to its ARKG fund and ARKK funds. Read Next: Tesla Shareholders Demand Answers From Elon Musk On Growing List Of Promises Ahead Of Q3 Earnings: From Affordable Models To FSD Rollout And Next-Generation Roadster This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal Market News and Data brought to you by Benzinga APIs
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Cathie Wood's ARK offloads Robinhood stock, buys Tempus AI By Investing.com
Cathie Wood's ARK ETF published their daily trades for Tuesday, October 22, 2024, revealing a mix of strategic buy and sell actions across various sectors. The most significant transaction of the day was the purchase of 170,649 shares of Tempus AI Inc (NYSE:TEM), amounting to a substantial investment of $8,307,193. This move indicates ARK's growing interest in the artificial intelligence company, as it follows a series of recent acquisitions of Tempus AI shares, suggesting a bullish stance on the company's future. In contrast, ARK divested a considerable portion of its holdings in Robinhood Markets Inc (NASDAQ:HOOD), selling 210,483 shares with a total value of $5,676,726. This sale was distributed between the ARKK and ARKW ETFs, with the majority being offloaded from the ARKK portfolio. The sell-off of Robinhood stock is part of a broader trend, as ARK has been reducing its position in the company over recent days. Another notable buy for ARK was Cerus Corp (NASDAQ:CERS), with the ETFs purchasing a total of 411,854 shares valued at $691,914. This continues ARK's recent accumulation of Cerus Corp stock, signaling confidence in the biomedical products company. ARK also continued to invest in CRISPR Therapeutics AG (NASDAQ:CRSP), buying 47,838 shares for a total of $2,320,621. This genetic medicine company has been a recurring name in ARK's daily trades, with consistent buying indicating a long-term interest in CRISPR's gene-editing technology. On the sell side, ARK reduced its stake in Moderna Inc (NASDAQ:MRNA) by 157,421 shares, resulting in an $8,469,249 reduction in ARK's exposure to the biotechnology firm. This move is part of a selling trend for Moderna stock within ARK's portfolios. Smaller transactions included the sale of 2,626 shares of Markforged Holding Corp (NYSE:MKFG) and 400 shares of Materialise NV (NASDAQ:MTLS), with total values of $12,027 and $2,071 respectively. Overall, ARK's trading activity for the day showcases a strategic rebalancing of its ETF portfolios, with significant investments in emerging tech and biotech companies while retracting from certain established names. Investors will likely monitor these trades closely, as ARK's moves could signal broader market trends and shifts in sector focus.
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Cathie Wood's ARK Invest makes significant portfolio changes, selling $5.8M worth of Robinhood shares while investing heavily in Tempus AI and other biotech companies, signaling a strategic shift towards AI and emerging technologies.
Cathie Wood's ARK Invest, known for its focus on disruptive innovation, has made significant changes to its investment portfolio, reflecting a strategic shift towards artificial intelligence and emerging technologies. On Tuesday, October 22, 2024, ARK executed a series of trades that caught the attention of market observers and investors alike 12.
In a notable move, ARK Invest sold a substantial portion of its holdings in Robinhood Markets Inc (HOOD). The firm offloaded 210,483 shares of Robinhood from its ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW), valued at approximately $5.8 million based on Tuesday's closing price of $27.41 1. This divestment comes amid mixed analyst forecasts, with some predicting a potential 12% rally for the stock 1.
Contrasting the Robinhood sell-off, ARK made a significant investment in Tempus AI Inc (TEM). The firm purchased 170,649 shares of Tempus AI, amounting to an investment of $8,307,193 2. This move underscores ARK's growing interest in artificial intelligence companies and follows a series of recent acquisitions in Tempus AI, suggesting a bullish outlook on the company's future prospects.
ARK's trading activity also revealed a continued focus on biotechnology and gene editing companies:
CRISPR Therapeutics AG (CRSP): ARK bought 47,838 shares valued at $2,320,621, reinforcing its long-term interest in CRISPR's gene-editing technology 2.
Cerus Corp (CERS): The firm added 411,854 shares worth $691,914 to its portfolio, signaling confidence in this biomedical products company 2.
Moderna Inc (MRNA): In contrast, ARK reduced its stake in Moderna by selling 157,421 shares, resulting in an $8,469,249 reduction in exposure to the biotechnology firm 2.
ARK's portfolio adjustments also included smaller transactions:
These trades by ARK Invest are closely watched by investors as they may signal broader market trends and shifts in sector focus. The significant investment in Tempus AI and continued support for gene-editing technologies suggest that ARK sees substantial growth potential in these areas.
The reduction in Robinhood holdings, following earlier sell-offs, has sparked discussions among investors about whether to follow ARK's lead or maintain their positions. However, as noted by Benzinga, the reasons behind selling a stock can be complex and may not always warrant immediate market reactions 1.
As ARK continues to rebalance its ETF portfolios, emphasizing emerging tech and biotech companies while reducing exposure to certain established names, it reflects a broader strategy of positioning for future growth in disruptive technologies and innovative healthcare solutions.
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ARK Invest, led by Cathie Wood, makes significant portfolio adjustments, selling Tesla shares worth millions while heavily investing in AI-focused Tempus. This strategic shift reflects changing market dynamics and a growing emphasis on AI technologies.
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Cathie Wood's Ark Invest makes significant investments in AI-focused companies, particularly Tempus AI, while adjusting positions in other tech stocks amid market fluctuations.
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Cathie Wood's ARK Invest makes significant changes to its portfolio, selling Palantir shares while increasing stakes in AMD and DraftKings. The moves come amid Palantir's potential inclusion in the S&P 500 and shifting market dynamics.
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Ark Invest, led by Cathie Wood, executes significant trades involving Tempus AI, Coinbase, and ARK Bitcoin ETF, showcasing strategic portfolio adjustments in response to market fluctuations and company performances.
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Cathie Wood's Ark Invest increases stakes in Nvidia, Baidu, and Iridium Communications during a significant market downturn, highlighting her confidence in AI-related companies despite recent challenges.
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