Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Cathie Wood-led Ark Investment Management bought 311,073 Teladoc Health Inc (NYSE:TDOC) shares valued at over $11 million, through four of its exchange-traded funds, according to the firm's trading disclosure.
Teladoc is the fifth largest holding in Ark's flagship fund Ark Innovation ETF (NYSE:ARKK), with a weight of 4.51%. ARKK holds more than 11 million shares in the company, valued at over $415 million.
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Analyst Rating: Guggenheim recently downgraded Teladoc shares from Neutral to Sell with a price target of $25, according to Benzinga Pro.
Guggenheim analyst Sandy Draper attributed his pessimism to a delay in enterprises choosing to sign up due to a weakening macroeconomic environment, consumers reducing their spending in an inflationary environment, and to a lesser extent on headwinds from a strong greenback, reported Barrons.
Tesla and Twitter Stake Trimmed: Cathie Wood sold 898 shares of Tesla Inc. (NASDAQ:TSLA) valued at over $800,000 based on Wednesday’s closing price through the ARK Next Generation Internet ETF (NYSE:ARKW). Tesla stock is set for a three-for-one stock split on Aug. 25 after the EV maker secured approval from shareholders earlier this month.
Wood also sold 100 shares of Twitter Inc. (NYSE:TWTR) valued at $4,399 based on Wednesday’s closing price.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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