close
close
Cathie Wood’s ARK Deletes Robinhood and Buys More Tesla Stock Through Investing.com

Cathie Wood’s ARK Deletes Robinhood and Buys More Tesla Stock Through Investing.com

In the latest trading activity, Cathie Wood’s ARK ETFs announced their daily trades for Friday, October 11, 2024, with significant moves in several high-profile stocks. The most substantial transaction of the day involved a sale of Robinhood Markets Inc (NASDAQ:) shares, with ARK offloading a total of 178,658 shares of its ARKK and ARKW ETFs, valued at approximately $4.56 million.

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

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

Other sales include positions in Markforged Holding Corp (NYSE:MKFG), Materialize NV (NASDAQ:), en Roku Inc (NASDAQ:), with the trades being worth approximately $122,611, $75,405 and $1.38 million, respectively.

On the buy side, in addition to its notable investment in Tesla, ARK made a modest purchase of shares of Blade Air Mobility Inc (NASDAQ:), acquiring 400 shares 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 business.

Investors who follow ARK’s trades can take note of these patterns, as they can spot the fund’s strategic shifts and long-term beliefs across sectors and individual stock prospects.

This article was produced with the support of AI and reviewed by an editor. For more information see our General Terms and Conditions.