Cathie Wood's Ark Invest Trims Tesla Exposure Amid Searing Rally, Sells $21.8M Worth Of Stock â€” Bets On This AI Medical Company

Cathie Wood's Ark Invest Trims Tesla Exposure Amid Searing Rally, Sells $21.8M Worth Of Stock — Bets On This AI Medical Company

Shivdeep Dhaliwal

December 11, 2024

On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Tesla Inc. (NASDAQ:TSLA) and Tempus AI Inc. (NASDAQ:TEM). The investment firm opted to sell a substantial number of Tesla shares while increasing its stake in Tempus AI. These trades come amid noteworthy market movements, including Tesla’s stock reaching new all-time highs.

The Tesla Trade

The ARK Innovation ETF (NYSE:ARKK) fund sold 51,335 shares of Tesla, valued at approximately $21.8 million, based on the closing price of $424.77. This decision coincides with Tesla’s stock reaching a new all-time high, driven by a surge in its price following the 2024 presidential election. Analysts have been raising their price targets for the electric vehicle giant, contributing to its stock hitting a 52-week high of $415. The stock’s performance has been buoyed by favorable market conditions, including anticipated interest rate cuts by the Federal Reserve.

Elon Musk, Tesla’s CEO, has become the first person to surpass a net worth of $400 billion, thanks to the stock’s impressive rally. The stock’s momentum is expected to continue as market analysts remain optimistic about its future prospects.

The Tempus AI Trade

In contrast to its Tesla trade, Ark Invest significantly increased its position in Tempus AI, purchasing 424,522 shares through its ARK Genomic Revolution ETF (BATS:ARKG) and ARKK funds. The total value of this acquisition is approximately $18.3 million, calculated using the closing price of $43.19. Tempus AI, a healthcare diagnostics company, has been in the spotlight, partly due to strategic investments from major players like Google and SoftBank.

Other Key Trades:

Sold shares of Veracyte Inc. from the ARKG fund.Sold shares of Rocket Lab USA Inc. from the ARKQ fund.Bought shares of Symbotic Inc. through the ARKQ fund.

Image via Benzinga YouTube and Unsplash

Read Next:

Gamestop, Adobe, Meta, Candel Therapeutics, And Tesla: Why These 5 Stocks Are On Investors’ Radars Today

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Recommended

Crypto Stocks Are Heating Up - Ad

NJ iGaming Hits $2.4b--What's Next? - Ad

Legendary Investor: Buy These "Trump Stocks" Now - Ad

Popular

Why is Spain considering a 100% tax on homes bought by non-EU residents?

MADRID (AP) — Spain is planning a raft of measures to address its , including an up to 100% tax on properties that non-European Union residents buy.

Trump Treasury Nominee Pledges To Maintain Dollar's Global Reserve Status, Outlines Vision For 'New Economic Golden Age'

Scott Bessent, Trump's Treasury Secretary nominee, pledged to uphold the dollar's reserve currency status, emphasizing productive investment, supply chain security, and strategic sanctions to bolster U.S. economic dominance.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Perdue Farms to shut down Tennessee plant

MONTEREY, Tenn. (AP) — Perdue Farms plans to close a processing plant in Tennessee that employs more than 430 people.

More countries, including China, are grappling with shrinking and aging populations

BEIJING (AP) — A growing number of countries are confronting the dual challenges of population decline and aging, as younger generations opt to have fewer children and advances in healthcare extend life expectancy.

Crypto Stocks Surge Amid Market Boom

Crypto Stocks Surge Amid Market Boom - Ad

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

SpaceX launches colossal Starship rocket and catches it for 2nd time with robotic arms

For the second time, used giant mechanical arms to catch its Starship rocket back at the pad minutes after liftoff Thursday.

Trump Reportedly Planning To Declare Crypto As National Priority Through Executive Order

President-elect Donald Trump is set to issue an executive order to declare cryptocurrency as a national priority and incorporate industry experts into his administration, according to a Thursday report.

FORGET Crypto, FORGET Stocks... Do THIS Instead...

FORGET Crypto, FORGET Stocks... Do THIS Instead... - Ad

With everyone scrambling for the next hot AI stock or cryptocurrency... One man is saying FORGET them all. Because his strategy could lead to bigger gains than you'd see from stocks, crypto or anything else you might be seeing. It's shown his readers gains of 85% in 14 days... 55% gains in 2 days... And even 222% in 8 days!

Bloomberg reports that Meta will lay off 5% of staff

News reports say that social media company Meta Platforms is planning to cut 5% of total staff this year by terminating staff based on performance and hiring new workers to replace them.

Microsoft, Applied Digital, Rigetti Computing, Eli Lilly, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Tuesday, Jan. 13, 2024 MSFT, APLD, RGTI, LLY, TSLA were among the stocks trending with investors.

Texas Escalates New War With the Fed

Texas Escalates New War With the Fed - Ad

A small group in rural Texas has joined a $21 trillion overhaul of America's banking system. They're backed up by Elon Musk and the new White House.

A possible TikTok ban is just days away. A list of other apps available

With a possible TikTok ban just days away, many U.S. users are looking for alternative social media platforms to help them keep up with pop culture or provide the type of entertaining videos that popularized the short-form video app.

Euphoria Over Pro-Crypto Trump Fuels $2.2 Billion Inflow Into Digital Asset Products, Bitcoin Dominates

Digital asset investment products recorded $2.2 billion in inflows last week, driven by market optimism surrounding Donald Trump's inauguration.

The VIP Strategy Behind iGaming's Best Stock

The VIP Strategy Behind iGaming's Best Stock - Ad

NJ's record $2.4B iGaming revenue proves the market is booming. One company targeting high-value players boasts $2.13 ROI, double retention rates, and entry into a $12B Latin American market. With growth catalysts ahead, this stock is one to watch.

Stocks Fail To Rise Despite Benign Producer Inflation, 30-Year Treasury Yields Hit 5%, Ely Lilly Tumbles: What's Driving Markets Tuesday?

A cooler-than-expected December producer inflation report failed to ignite lasting gains on Wall Street Tuesday, reflecting lingering concerns about persistently high inflation among investors.

As Tesla Soars 8%, Gary Black Cites Trump Impact, Elon Musk Pay Package, And $30K Car As Key Catalysts For EV Maker In 2025

Tesla Inc. shares climbed more than 8% Wednesday amid optimistic forecasts from prominent investor Gary Black, who cited multiple growth catalysts for the electric vehicle maker in 2025.

AI-Powered Cameras + Smart Glass = A Potential Nasdaq Sleeper

AI-Powered Cameras + Smart Glass = A Potential Nasdaq Sleeper - Ad

This recent Nasdaq IPO is quietly making waves in two massive markets: AI-powered Advanced Driver Assistance Systems (ADAS) and smart glass technology and this company is poised for substantial growth in the two multi-billion-dollar markets.

Bitcoin Set For Major Bullish Surge, Says Popular Crypto Analyst As BTC Crosses $100,000 Ahead Of Trump Inauguration

Michaël van de Poppe, a highly followed crypto trader, anticipates a significant bullish surge for Bitcoin (CRYPTO: BTC) in the near future, as the apex cryptocurrency crossed the $100,000 mark once again ahead of President-elect Donald Trump's inauguration.

Solar farms are booming in the US and putting thousands of hungry sheep to work

BUCKHOLTS, Texas (AP) — On rural Texas farmland, beneath hundreds of rows of solar panels, a troop of stocky sheep rummage through pasture, casually bumping into one another as they remain committed to a single task: chewing grass.

Retire from ONE Stock?! [Ticker Symbol Revealed]

Retire from ONE Stock?! [Ticker Symbol Revealed] - Ad

Jeff Clark has used one stock -- just one -- to show his readers gains of 85% in 14 days, 176% in 5 weeks, 41% in two weeks, 120% in 3 months, 138% in 8 days, 186% in 8 days, 222% in 8 days, and many more... With gains like that, is it really possible to retire from this ONE stock alone?

Stock market today: Asian stocks follow Wall Street's retreat, oil prices surge

HONG KONG (AP) — Asian stocks retreated on Monday after U.S. stocks fell as raised inflation worries.

Trump 2.0 Could Be Thwarted By Inflation, Mohamed El-Erian Notes Ahead Of CPI Data Release

Mohamed El-Erian shared Bloomberg's John Authers' analysis, warning that persistent inflation could hinder President-elect Trump's economic agenda as markets await December CPI data.

NJ's $2.4B iGaming Boom: One Stock to Watch

NJ's $2.4B iGaming Boom: One Stock to Watch - Ad

The iGaming market is rewriting the rules, with New Jersey hitting $2.4B in revenue last year. One company stands out, delivering $2.13 for every $1 spent and expanding into lucrative markets.

Apple Eyes Barclays And Synchrony To Replace Goldman Sachs As Credit Card Partner: Report

Apple is exploring partnerships with Barclays and Synchrony to replace Goldman Sachs as its credit card partner as Goldman scales back its consumer finance ambitions.

Donald Trump's Meme Coin 'TRUMP' Rallies 103% in a Day, Creates Billions Out of Thin Air

President-elect Donald Trump‘s Saturday launch of the meme coin TRUMP (CRYPTO: TRUMP) has caused a stir in both the crypto industry and among government watchdogs.

Say Goodbye to Trading Losses

Say Goodbye to Trading Losses - Ad

Tired of losing? Pivozon MM4 EA is the solution! It's optimized for XAUUSD H1 timeframe, on high level ticks data from DukasCopy since 2016 till present. The main core is fixed SL/TP, low DrawDown under 37% and impressive WinRate above 60%. Pivozon avoids dangerous methods like Hedge, Grid, Scalping or Arbitrage. Enjoy over 100% yearly returns, and advanced equity and spread protections.

Jamie Dimon Calls Elon Musk 'An Extraordinary Talent' -- JP Morgan CEO Shares Why Trump's Election Victory Didn't Surprise Him

Jamie Dimon offered a praise for Tesla CEO Elon Musk while sharing insights on American political dynamics in an interview.

Dating Coach Shares Why She Walked Away From a Deal With Mark Cuban

The CEO of online dating coaching company Dating by Blaine has detailed why she declined an offer from billionaire Mark Cuban after initially accepting the deal on "Shark Tank."

Unlocking a Polymetallic Discovery Like No Other

Unlocking a Polymetallic Discovery Like No Other - Ad

With drill results rivaling the best in the world and a fully funded 2025 program, this polymetallic stock is poised for major growth. Industry icons Robert Friedland and Rob McEwen are already in. Will you be next?

Scaramucci Criticizes Donald Trump's Meme Coin Launch: 'Idi Amin-Level Corruption'

Anthony Scaramucci has expressed his disapproval of President-elect Donald Trump‘s newly launched meme coin TRUMP (CRYPTO: TRUMP), labeling

Few know Shalanda Young. But she saved the US from the kinds of economic crises Trump now faces

WASHINGTON (AP) — Few Democrats found ways to negotiate with Republicans quite like — whose work as White House budget director stopped several potential economic crises from erupting.

Elon Musk's Critical Metals Warning: What Investors Need to Know

Elon Musk's Critical Metals Warning: What Investors Need to Know - Ad

Elon Musk has repeatedly warned about the looming critical metals crisis, calling materials like nickel, copper, and PGMs essential to Tesla's future. One Canadian discovery in Quebec is drawing comparisons to Russia's Norilsk Mine and has the potential to reshape global supply chains. With heavyweight backers and a fully funded exploration plan, this opportunity demands attention.

How Trump's political and business interests will intersect in the White House

As he assumes the presidency for a second time, brings with him a broad expanse of business relationships and financial entanglements — and the possibility that those associations could in the White House.

Jim Cramer Questions Nvidia's Trading Pattern Amid Positive TSMC Earnings And Biden's China Export Regulations

NVIDIA Corp. is facing renewed market scrutiny as Jim Cramer questioned the stock's trading pattern on Thursday, amid growing concerns over China sanctions and positive earnings from key supplier Taiwan Semiconductor Manufacturing Co.

Stunning Trump Exec Order Leaked

Stunning Trump Exec Order Leaked - Ad

This secret document contains stunning details about Donald Trump's big Day 1 announcement... His allies are calling it Trump's Secret Manhattan Project. Because if what's in this leaked document is even half true (and trust me, it comes from a very, very credible source)... It will be the boldest, most mind-blowing and daring American initiative ANY U.S. President has launched in over 80 years. And over the next 100 days, it could set off a huge dose of "Trump Market Euphoria"... igniting a buying frenzy in very specific AI stocks... unlike anything we've seen so far.

Italy rail asks authorities to investigate outages behind train delays

ROME (AP) — Italy’s national railroad filed a formal complaint with law enforcement authorities Wednesday alleging that power outages up and down the peninsula that have caused days of train delays were suspicious.

A battery plant fire in California started during a boom for energy storage

AUSTIN, Texas (AP) — A fire at one of the in Northern California contained tens of thousands of lithium batteries that store power from renewable energy and a growing electricity source.

Rural Texas Town Ramps Up Global Currency War

Rural Texas Town Ramps Up Global Currency War - Ad

A small town has joined a radical $1.9 trillion attack on the global banking system... backed up by Elon Musk and the White House.

Kohl's to close 27 stores by April as struggling retailer looks to improve profits, sales

NEW YORK (AP) — Kohl’s said Friday it was closing 27 underperforming stores in 15 states by April — a fraction of its 1,150 store base — as the struggling department store aims to boost profitability and improve sagging sales.

Trending Now

Cathie Wood's Ark Invest Trims Tesla Exposure Amid Searing Rally, Sells $21.8M Worth Of Stock — Bets On This AI Medical Company

Crypto Stocks Are Heating Up - Ad

NJ iGaming Hits $2.4b--What's Next? - Ad

Legendary Investor: Buy These "Trump Stocks" Now - Ad

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Crypto Stocks Surge Amid Market Boom - Ad

FORGET Crypto, FORGET Stocks... Do THIS Instead... - Ad

Texas Escalates New War With the Fed - Ad

The VIP Strategy Behind iGaming's Best Stock - Ad

AI-Powered Cameras + Smart Glass = A Potential Nasdaq Sleeper - Ad

Retire from ONE Stock?! [Ticker Symbol Revealed] - Ad

NJ's $2.4B iGaming Boom: One Stock to Watch - Ad

Say Goodbye to Trading Losses - Ad

Unlocking a Polymetallic Discovery Like No Other - Ad

Elon Musk's Critical Metals Warning: What Investors Need to Know - Ad

Stunning Trump Exec Order Leaked - Ad

Rural Texas Town Ramps Up Global Currency War - Ad

TICKER: REDACTED -- Buy Now! - Ad

This Coin Could Surge Like Bitcoin Did Back in 2013... - Ad

The $124B Smart Glass Disruptor - Ad

The $20 Stock Powering NVIDIA, TESLA, and Microsoft - Ad

The Stock Driving iGaming's Success - Ad

iGaming's Next Big Stock Winner - Ad

He Called Every Bull And Bear Market In Crypto Since 2012 ... Here's What He Says Is Next - Ad

He Called Bitcoin to $100k... Now He Says This Coin Is Next - Ad

January 28th: Gold SHOCK? - Ad

Critical Metals: The Linchpin of the Energy Transition - Ad

"One Stock Gold Blueprint" REVEALED - Ad

The No. 1 Stock for Trump's Second Term? - Ad

Get Your Retirement Plan in Shape in 2025 - Ad

Tired of Losses? Try Gigapips! - Ad

How to Invest in Trump's Crypto Revolution with Just $25 - Ad

Crypto Stocks Surge Amid Market Boom - Ad