Ark Investment (ARKK, $$95.64) sold $22.3 million of Tesla shares
On Tuesday, Cathie Wood’s Ark Investment Management sold 20,446 shares of Tesla. That is estimated to be around $22.3 million.
The sale took place via the Ark Innovation ETF, the Ark Next Generation Internet ETF, and the Ark Autonomous Technology & Robotics ETF. These three ETFs held 1.84 million shares of Tesla worth about $2.01 billion ahead of Tuesday’s trade.
Tesla is Ark’s largest holding.
According to Ark’s forecast, Tesla shares would hit $3,000 by the end of 2025.
ARKK in -5.69% downward trend, falling for three consecutive days on July 18, 2024
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where ARKK declined for three days, in of 299 cases, the price declined further within the following month. The odds of a continued downward trend are .
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Notable companies
The most notable companies in this group are Meta Platforms (NASDAQ:META), Tesla (NASDAQ:TSLA), Shopify (NYSE:SHOP), Block (NYSE:SQ), Moderna (NASDAQ:MRNA), Trade Desk (The) (NASDAQ:TTD), Pinterest (NYSE:PINS), Zoom Video Communications (NASDAQ:ZM), Teradyne (NASDAQ:TER), Exact Sciences Corp (NASDAQ:EXAS).
Industry description
The investment seeks long-term growth of capital.
The fund is an actively-managed exchange-traded fund ("ETF") that will invest under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to the fund's investment theme of disruptive innovation. Its investments in foreign equity securities will be in both developed and emerging markets. The fund may invest in foreign securities listed on foreign exchanges as well as American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). The fund is non-diversified.
Market Cap
The average market capitalization across the ARK Innovation ETF ETF is 64.4B. The market cap for tickers in the group ranges from 32.6M to 1.24T. META holds the highest valuation in this group at 1.24T. The lowest valued company is TWOU at 32.6M.
High and low price notable news
The average weekly price growth across all stocks in the ARK Innovation ETF ETF was 33%. For the same ETF, the average monthly price growth was 57%, and the average quarterly price growth was 96%. BEAM experienced the highest price growth at 26%, while TWOU experienced the biggest fall at -64%.
Volume
The average weekly volume growth across all stocks in the ARK Innovation ETF ETF was -17%. For the same stocks of the ETF, the average monthly volume growth was -11% and the average quarterly volume growth was 3%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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