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    Home » Cathie Wood’s ARK offloads Robinhood, buys more Tesla stock By Investing.com
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    Cathie Wood’s ARK offloads Robinhood, buys more Tesla stock By Investing.com

    userBy userOctober 11, 2024No Comments2 Mins Read
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    In the latest trading activity, Cathie Wood’s ARK ETFs disclosed their daily transactions for Friday, October 11th, 2024, with significant moves in several high-profile stocks. The most substantial transaction of the day involved a sell-off of Robinhood Markets Inc (NASDAQ:) shares, with ARK divesting a total of 178,658 shares across its ARKK and ARKW ETFs, amounting to a value of approximately $4.56 million.

    Conversely, ARK showed continued confidence in electric vehicle giant Tesla Inc (NASDAQ:), purchasing 12,730 shares through its ARKW ETF, representing a cash outlay of around $3.04 million. This purchase adds to ARK’s recent pattern of accumulating Tesla stock, underscoring the fund’s bullish stance on the EV maker.

    Moderna Inc (NASDAQ:) also saw a significant reduction in ARK’s holdings, with 130,136 shares sold between the ARKK and ARKG ETFs, totaling nearly $7.4 million. This follows a trend of ARK reducing its position in the biotechnology company, as observed in previous trading sessions.

    Other sales included positions in Markforged Holding Corp (NYSE:MKFG), Materialise NV (NASDAQ:), and Roku Inc (NASDAQ:), with the transactions valued at approximately $122,611, $75,405, and $1.38 million, respectively.

    On the buying side, besides the notable investment in Tesla, ARK made a modest purchase of Blade Air Mobility Inc (NASDAQ:) stock, acquiring 400 shares split across the ARKQ and ARKX ETFs, for a total value of $1,376. This follows a series of purchases in Blade Air Mobility over the past week, indicating ARK’s growing interest in the urban air mobility company.

    Investors following ARK’s trades may take note of these patterns, as they could signal the fund’s strategic shifts and long-term convictions in various sectors and individual stock prospects.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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