Latest news with #ARKInvest
Globe and Mail
2 days ago
- Business
- Globe and Mail
Cathie Wood Trims Tesla Stock (TSLA) Ahead of Robotaxi Launch—Is it a Red Flag for Investors?
Cathie Wood, one of Tesla's most prominent long-term bulls, made a surprising move by trimming her Tesla (TSLA) holdings weeks before the company's highly anticipated Robotaxi reveal. As excitement builds around Elon Musk's autonomous vision, ARK Invest's sudden Tesla sell-off has raised eyebrows across Wall Street. Confident Investing Starts Here: For context, Wood's ARK Innovation ETF (ARKK) sold nearly 50,000 Tesla shares last week. This includes 27,377 on Tuesday, 15,817 on Wednesday, and 6,511 on Friday, totaling around $17 million, according to recent trade disclosures. Meanwhile, Tesla is set to launch its Robotaxi service, featuring self-driving CyberCab vehicles, which will offer on-demand rides in Austin starting on June 12. What It Means for Investors While ARK's latest Tesla sell-off may look alarming, it's worth noting that Cathie Wood routinely trims oversized positions to rebalance her portfolio. This move likely signals profit-taking or strategic diversification, not a complete loss of faith. That said, the timing is notable. With Tesla's highly anticipated Robotaxi launch looming, some investors may wonder if ARK is hedging against short-term uncertainty. After all, autonomous driving technology is still unproven at scale, and if Tesla's rollout doesn't meet expectations, market sentiment could shift quickly. For retail investors, ARK's partial exit could be a quiet warning to avoid getting caught up in the hype. Tesla Retains Top Spot in ARKK Despite recent share sales, ARKK remains deeply invested in Tesla, demonstrating strong long-term conviction. Wood has been a steadfast Tesla bull, fueled by her confidence in the company's potential to dominate the robo-taxi market. Earlier in March, ARKK set an ambitious price target of $2,600 for Tesla shares by 2029. Wood's optimistic forecast is grounded in the belief that Tesla's robotaxis will drive nearly 90% of the company's value by the end of the decade. Overall, Tesla remains the largest holding in the ARKK fund, comprising nearly 13% of its portfolio. Are Tesla Shares a Good Buy? On Wall Street, analysts have maintained a neutral stance on Tesla stock. According to TipRanks, TSLA stock has received a Hold consensus rating, with 16 Buys, 10 Holds, and 11 Sells assigned in the last three months. The average Tesla stock price target is $282.7, suggesting a potential downside of 17.5% from the current level. See more TSLA analyst ratings Disclaimer & Disclosure Report an Issue
Yahoo
3 days ago
- Business
- Yahoo
Musk's Neuralink Secures $650 Million for Clinical Push
Neuralink just closed a hefty $650 million Series E round, pushing its valuation past the $9 billion mark. Backed by big names like ARK Invest, Founders Fund, Sequoia Capital, QIA and Valor Equity Partners, this infusion makes it clear that investors still believe in Tesla (NASDAQ:TSLA) CEO Elon Musk's vision of braincomputer interfaces (BCIs). In more concrete terms, it means Neuralink can accelerate its clinical trialsright now, five patients with severe paralysis are already using implanted devices to control computers and smartphones with their thoughts alone. Those trials span institutions like the Barrow Neurological Institute, Miami Project to Cure Paralysis, Toronto Western Hospital and the Cleveland Clinic in Abu Dhabi. And because Neuralink is hoping to snag Breakthrough Device Designation from the FDA for its vision and speech restoration program, the clock is tickingdecisions on that usually land within 60 days. If they get it, the path to wider use becomes a lot smoother. Of course, this isn't just about bolstering medical trials. With the new capital, Neuralink can beef up manufacturing and expand its engineering teamscritical steps if it's going to compete in an emerging market for neuroprosthetics. Moreover, thanks to Musk's broader ecosystem commitment with Tesla, SpaceX, Starlink, xAI and XNeuralink has unique access to AI expertise, hardware know-how and regulatory resources. All told, the big raise and the early patient wins suggest Neuralink's bets on restoring autonomy to people with paralysis (and possibly beyond) are far from over. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Musk's Neuralink Secures $650 Million for Clinical Push
Neuralink just closed a hefty $650 million Series E round, pushing its valuation past the $9 billion mark. Backed by big names like ARK Invest, Founders Fund, Sequoia Capital, QIA and Valor Equity Partners, this infusion makes it clear that investors still believe in Tesla (NASDAQ:TSLA) CEO Elon Musk's vision of braincomputer interfaces (BCIs). In more concrete terms, it means Neuralink can accelerate its clinical trialsright now, five patients with severe paralysis are already using implanted devices to control computers and smartphones with their thoughts alone. Those trials span institutions like the Barrow Neurological Institute, Miami Project to Cure Paralysis, Toronto Western Hospital and the Cleveland Clinic in Abu Dhabi. And because Neuralink is hoping to snag Breakthrough Device Designation from the FDA for its vision and speech restoration program, the clock is tickingdecisions on that usually land within 60 days. If they get it, the path to wider use becomes a lot smoother. Of course, this isn't just about bolstering medical trials. With the new capital, Neuralink can beef up manufacturing and expand its engineering teamscritical steps if it's going to compete in an emerging market for neuroprosthetics. Moreover, thanks to Musk's broader ecosystem commitment with Tesla, SpaceX, Starlink, xAI and XNeuralink has unique access to AI expertise, hardware know-how and regulatory resources. All told, the big raise and the early patient wins suggest Neuralink's bets on restoring autonomy to people with paralysis (and possibly beyond) are far from over. This article first appeared on GuruFocus. Sign in to access your portfolio
Zawya
3 days ago
- Business
- Zawya
ARK 21Shares Bitcoin ETF to undergo 3-for-1 share split on June 16
21Shares US said on Monday it will carry out a 3-for-1 share split of its ARK 21Shares Bitcoin ETF to make the fund more accessible to investors, with the move set to take effect at market open on June 16. The approval of such spot bitcoin ETFs in January 2024 by the U.S. Securities and Exchange Commission, marked a watershed moment for the digital assets industry, ending a decade-long wait and signaling growing regulatory acceptance. The funds, which have rapidly grown in popularity, offer direct exposure to bitcoin through traditional markets, allowing institutions and other investors to participate without holding the token, bolstering credibility and inflows into the sector. ARKB has gained almost 12% so far this year and nearly 27% quarter-to-date. It closed trading at $104.25 on Monday. Meanwhile, bitcoin, the world's largest and most widely recognized cryptocurrency, has also climbed above the $100,000 mark, a level seen as key by many market participants. Companies typically split shares to lower the trading price per unit, aiming to attract a broader base of retail investors and improve liquidity. The share split will not affect ARKB's net asset value, ticker symbol, or investment strategy, and its shares will continue trading under the same CUSIP, the company said. (Reporting by Manya Saini in Bengaluru; Editing by Shounak Dasgupta)
Time of India
3 days ago
- Business
- Time of India
Elon Musk's brain chip startup, Neuralink raises $650 million in Series E round
Elon Musk 's brain-computer interface company Neuralink announced Monday it has raised $650 million in its latest funding round, as the startup accelerates clinical trials of its brain implant technology across multiple countries. The Series E round attracted major investors including ARK Invest, Founders Fund, Sequoia Capital, Thrive Capital, and several others, valuing the company at approximately $9 billion pre-money according to recent reports. The funding represents a significant increase from Neuralink's $280 million Series D round in August 2023. Five patients with severe paralysis are currently using Neuralink's brain chip to control digital and physical devices through thought alone, marking a major milestone in the company's mission to restore independence for individuals with neurological conditions. The chip processes neural signals that can be transmitted wirelessly to computers and smartphones. Clinical trials for Neuralink's brain implant device expand globally by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Neuralink has launched clinical trials at leading medical institutions across three countries, including Barrow Neurological Institute, The Miami Project to Cure Paralysis at the University of Miami, University Health Network in Toronto, and Cleveland Clinic Abu Dhabi. The FDA granted Neuralink "breakthrough device" designation for both its speech restoration technology last month and its vision-restoring device in 2024. This designation expedites the development and review process for promising medical technologies. The company plans to use the new funding to expand patient access and develop next-generation devices that create deeper connections between biological and artificial intelligence. Neuralink is also investing in expanding the number of neurons and brain regions its device can interface with, working toward what it calls a "whole-brain interface." The funding comes as Musk recently stepped back from his advisory role with President Trump to refocus on his companies, including Tesla , SpaceX, and Neuralink.
