Cathie Wood's ARK has bought over $14 million worth of Tesla stock

On Thursday, March 28, 2024, Cathie Wood's ARK ETFs saw notable gains in the stock market, with Coinbase and Tesla driving the day's trading activity. The greatest transaction for ARK was the acquisition of a substantial 79,951 shares of the market leader in electric vehicles, Tesla, for a whopping $14,377,588. This action highlights ARK's ongoing optimistic view of Tesla, which has been a recurrent element in the investing strategy of the fund.

On the contrary, ARK sold off 15,693 shares worth $4,028,393 from its ARKK and ARKW ETFs, indicating a pessimistic attitude towards Coinbase. As can be seen from earlier transactions, ARK has been modifying its holdings in the Bitcoin exchange firm, which is the larger context in which this sale occurred.

Twist Bioscience was another noteworthy purchase made by ARK, with the purchase of 113,673 shares valued at $3,919,444. This acquisition is consistent with ARK's interest in biotechnology and genomics, two areas in which the investment company has strengthened its attention.

Increased purchases were also made at Kratos Defence & Security, where ARK paid $371,320 for 20,481 shares. This purchase indicates a rising pattern since ARK had previously purchased shares of the same business. This points to a calculated build-up of shares in the defence contractor, which has a focus on microwave electronics, satellite communications, and unmanned systems.

In less valuable deals, ARK invested $16,585 and $179,551 to purchase shares in Roblox and Personalis, respectively. These purchases, while not as significant as the ones previously mentioned, are a component of ARK's diverse investing strategy, which focuses on businesses having the potential to be inventive and disruptive.

A constant interest in specific industries and businesses may be observed by investors who track Cathie Wood's ARK ETFs. The most recent trades reveal the fund's convictions and strategy changes. Market observers will be interested to see how these actions turn out in the constantly changing world of investments, as usual.

(Sources: investing.com, reuters.com)