ARK Autonomous Technology & Robotics ETF

On Tuesday, the Cathie Wood-led Ark Invest made some significant trades. The most prominent among them were the increased stakes in Palantir Technologies Inc (NYSE:PLTR) and the reduced holdings in Coinbase Global Inc (NASDAQ:COIN). The PLTR Trade Ark Invest’s ETFs Ark Fintech Innovation ETF (NYSE:ARKF), ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Space Exploration & Innovation ETF (BATS:ARKX) purchased a combined total of 1,353,667 shares of Palantir. This move came despite the company’s shares trading lower following the release of its first-quarter financial results and softer guidance. The value of this trade, based on the closing price of $21.40, is approximately $29 million. According to a previous report, Palantir’s first-quarter revenue increased 21% year-over-year to $634 million, beating the consensus estimate. The company also reported adjusted earnings of 8 cents per share, in line with analyst estimates. Despite exceeding revenue expectations, the shares tumbled as investors reacted negatively to the company's light guidance for the second quarter and the full year. The COIN Trade Ark Invest’s ARKF, ARKK, and ARK Next Generation Internet ...Full story available on Benzinga.com

Related tickers: COIN, ARKQ, ARKW, ARKK, TWST, ARKF, DDOG, DKNG, PLTR, ARKX, RKLB.

On Tuesday, Cathie Wood-led Ark Invest made significant trades, with the most prominent ones involving BYD Co Ltd (OTC:BYDDY) and Palantir Technologies Inc (NYSE:PLTR). The BYD Co. Trade Ark Invest, through its ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), purchased 18,748 shares of BYD Co Ltd. Based on the closing price of $54.47 on the same day, the estimated value of this trade is approximately $1.02 million. This move comes in the wake of a debate between the late billionaire investor Charlie Munger and Wood over the superiority of Tesla, Inc and BYD in the electric vehicle market. Wood had defended Tesla, a key holding of Ark Innovation ETF, arguing that the lower costs associated with technologically enabled innovation in batteries and drivetrains would cause a boom in unit demand. This move by Ark Invest may indicate a broader strategy to capitalize on the growing electric vehicle market. The Palantir Trade Ark Invest also made a significant move in Palantir purchasing 45,453 shares through its ARKQ ETF. ...Full story available on Benzinga.com

Related tickers: AMD, BYDDY, ARKQ, PLTR.