From Nasdaq:

Ark Invest, led by Cathie Wood, has adjusted its portfolio by increasing its holdings in Tesla and Meta Platforms while reducing its stake in Coinbase and NVIDIA. This strategic move signals a calculated response to market developments and future growth prospects, with key transactions made through various ARK ETFs.

Despite Tesla’s earnings miss and recent discussions about Elon Musk’s compensation, Ark Invest acquired 145,455 Tesla shares valued at $27.45 million, showcasing strong confidence in the electric vehicle giant amidst market fluctuations.

Ark Invest delved back into Coinbase, purchasing $34.33 million worth of shares, despite halting selling earlier, reflecting a nuanced approach to its investments and a profit-taking move amidst the cryptocurrency exchange’s rally.

Ark Invest sold $7.83 million worth of NVIDIA shares amid valuation concerns, reflecting the firm’s agile investment strategy in response to market dynamics and the AI sector’s discussions.

With a purchase of 7,796 shares of Meta Platforms valued at $3.69 million, Ark Invest displayed its confidence in Meta’s strong position in the market, backed by analyst upgrades, a strong earnings report, and product innovation.

Ark Invest also increased investments in biotech firms and diversified its portfolio by acquiring emerging companies like Robinhood Markets and Spotify Technology, showcasing confidence in growth sectors.



Read more: Cathie Wood’s Ark Invest Bolsters Portfolio With Tesla, Meta Platforms Shares — Dumps Coinbase, Nvidia Amid Surge In Stock Price