ARK Invest Buys $38.1 Million in Tesla Shares After Stock Drop
- Tesla Share Acquisition: ARK Invest purchased 96,935 shares of Tesla after the stock fell 7.49%, totaling approximately $38.14 million, reflecting continued confidence in the electric vehicle market despite recent volatility.
- ETF Allocation Details: The largest portion of the purchase was allocated to the ARK Innovation ETF (ARKK), which added 69,723 shares valued at about $27.44 million, while the ARK Next Generation Internet ETF (ARKW) and ARK Space Exploration & Innovation ETF (ARKX) acquired shares worth approximately $6.91 million and $3.80 million, respectively, showcasing a diversified investment strategy.
- Increased Exposure to Musk's Companies: This Tesla purchase follows a $32.5 million investment in SpaceX, further enhancing ARK's portfolio exposure to Elon Musk-led companies, indicating a strong belief in their growth potential.
- Crypto Investment Support: Alongside Tesla, ARK also expanded its position in crypto-focused stock Bullish, acquiring 86,983 shares valued at around $2.22 million, demonstrating Cathie Wood's ongoing support for crypto assets amid rising economic uncertainties.
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Technical Analysis for ARK
Technical Sentiment Analysis for Ark (ARK). As of , Ark (ARK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ARK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ARK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ark (ARK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0391 | 0.0694 | 0.0893 | 0.12 | 0.139 | 0.17 | 0.19 |
| Fibonacci | 0.0694 | 0.0886 | 0.1 | 0.12 | 0.139 | 0.151 | 0.17 |
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