🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Cathie Wood's ARK trades Tesla and Teradyne stock, buys Crispr

Published 25-10-2024, 05:32 am
TER
-
TSLA
-
NTLA
-
CRSP
-

Cathie Wood's ARK ETFs have been active in the market on Thursday, 24 October 2024, with a series of notable transactions that reflect the investment firm's strategic positioning. The daily trade report reveals a mix of buys and sells across various sectors, with the largest dollar-value trade involving the sell-off of Tesla Inc (NASDAQ:TSLA) shares.

ARK ETFs sold a total of 85,456 shares of Tesla, resulting in a significant dollar value of $18,257,673. This move comes amidst a dynamic market environment for the electric vehicle giant, which has seen its shares experience volatility in recent months. The decision to reduce exposure to Tesla might be a tactical one, considering the company's performance and broader market trends.

Another major transaction involved Teradyne Inc (NASDAQ:TER), a provider of automated test equipment. ARK ETFs bought a substantial number of shares, totaling 132,546, with a dollar value of $16,492,698. This investment indicates ARK's confidence in Teradyne's growth prospects and its role in the technology sector.

In the biotech sphere, ARK ETFs continued to increase their stake in Crispr Therapeutics AG (NASDAQ:CRSP), purchasing 95,330 shares with a dollar value of $4,385,180. This follows a pattern of consistent buying in the gene-editing company, suggesting ARK's bullish outlook on the potential of CRISPR technology in healthcare.

Intellia Therapeutics Inc (NASDAQ:NTLA), another company specializing in genome editing, also saw significant investment from ARK ETFs. A total of 216,205 shares were bought, amounting to $4,311,127. This, too, reflects ARK's focus on innovative healthcare solutions and its belief in the long-term value of such disruptive technologies.

On the sell side, ARK ETFs divested from L3Harris Technologies Inc (NYSE:NYSE:LHX), a defense contractor, by selling 3,872 shares valued at $951,815. Additionally, ARK ETFs reduced their holdings in Markforged Holding Corp (NYSE:MKFG), a 3D printing company, by selling 315,011 shares with a dollar value of $1,439,600.

Cerus Corp (NASDAQ:CERS), a biomedical products company, continued to attract ARK's interest, with the firm buying 308,066 shares across different ETFs, totaling $495,986. This follows a trend of ARK accumulating shares in Cerus, indicating a positive outlook on the company's prospects.

Other trades included the sale of shares in Materialise NV (NASDAQ:MTLS) and Vertex Pharmaceuticals Inc (NASDAQ:VRTX), with ARK ETFs selling 146,179 and 5,008 shares valued at $744,051 and $2,354,010, respectively.

The daily trade report from Cathie Wood's ARK ETFs provides insights into the investment firm's market moves and strategic bets. With significant buys in companies at the forefront of technological and biomedical innovation and selective sells in other sectors, ARK's activities reflect its commitment to investing in disruptive growth opportunities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.