Cathie Wood Sells Another $32M In Tesla And Loads Up On Facebook And This Sports Betting Stock
Cathie Wood’s money managing firm Ark Invest on Thursday further raised its exposure in $Meta Platforms(FB.US$ after the Mark Zuckerberg-led company announced changing its name to Meta Platforms Inc last week to reflect its ambition beyond social media.Ark Invest bought 102,461 shares — estimated to be worth $36.46 million — in Facebook on Thursday.
The investment firm bought shares in Facebook via the $ARK Fintech Innovation ETF(ARKF.US$ on Thursday and also owns shares in the company via the $ARK Next Generation Internet ETF(ARKW.US$ The two Ark Invest ETFs had piled up 487,303 shares — estimated to be worth $161.59 million — in Facebook, ahead of Thursday’s trade.
Here are a few other key trades from Ark on Thursday:
Sold 1.79 million shares — estimated to be worth $120.9 million — $Zillow-C(Z.US$ . Shares closed 3.07% higher at $67.48 a share on Thursday after sinking a day ago.
Sold 26,203 shares — estimated to be worth $32.2 million — In $Tesla(TSLA.US$ . Shares closed 1.32% higher at $1,229.91 a share.
Bought 403,431 shares — estimated to be worth $18 million — in $DraftKings(DKNG.US$ on the day shares of the company closed 4.61% lower at $44.68 a share.
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Becky007 : Whenever she sells Tesla. It spikes.... Hope the pattern remains intact.
rabitter : Can't understand her trading behavior
Investing 101 : She is selling tesla not because she believes it is too high in valuation. In fact she believes tesla will reach 4k. The main reason she is selling tesla is because she is still a fund manager and she cannot let tesla get too overweight in her funds. This will cause very huge volatility should tesla have a larger pullback. She has to rebalance her portfolio by selling tesla shares and repositioning those funds elsewhere.
facaimind rabitter: u don't have to understand, just do the opposite, and we will be fine
Better than Youtuber : Whatever she bought is dropping lol.
moolalah : Whatever she bought has performed and she sold off to rebalance. She will re-enter again on the stocks she believes in.
HuatAh88 Becky007: Cathie still have a lot of Tesla stocks, so she practise averaging. lol
Uncle Huart Investing 101: hi..got any link to show what cathie wood investment are ? thks
Investing 101 Uncle Huart: You can actually search Arkk and see their website they do show their holdings there and weightage of each holdings.