Cathie Wood’s ARK Sells Robinhood Shares, Increases Tesla Stock Holdings

In the latest trading activities, Cathie Wood’s ARK ETFs revealed their daily transactions for Friday, October 11th, 2024, showcasing significant movements in several prominent stocks. The most notable transaction of the day was a sell-off of Robinhood Markets Inc shares, with ARK divesting a total of 178,658 shares across its ARKK and ARKW ETFs, amounting to approximately $4.56 million.

In contrast, ARK demonstrated continued confidence in electric vehicle giant Tesla Inc, purchasing 12,730 shares through its ARKW ETF, representing an expenditure of around $3.04 million. This acquisition is part of ARK’s ongoing strategy to accumulate Tesla stock, reinforcing its bullish outlook on the EV manufacturer.

Moderna Inc also experienced a considerable reduction in ARK’s holdings, with 130,136 shares sold across the ARKK and ARKG ETFs, totaling nearly $7.4 million. This sale is consistent with ARK’s trend of diminishing its position in the biotechnology company observed in previous trading sessions.

Additional sales included positions in Markforged Holding Corp, Materialise NV, and Roku Inc, with the respective transactions valued at approximately $122,611, $75,405, and $1.38 million.

On the buying front, aside from the significant investment in Tesla, ARK made a modest purchase of Blade Air Mobility Inc stock, acquiring 400 shares divided between the ARKQ and ARKX ETFs for a total of $1,376. This follows a series of purchases in Blade Air Mobility over the past week, indicating ARK’s increasing interest in the urban air mobility company.

Investors tracking ARK’s trades might find these patterns insightful, as they could reflect the fund’s strategic shifts and long-term convictions in various sectors and selected stock performances.

This article was generated with the support of AI and reviewed by an editor.