20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
On Tuesday, Cathie Wood-led Ark Invest continued its trend of selling shares of Tesla Inc (NASDAQ:TSLA). This move comes in the wake of the electric vehicle giant’s recent 9% rally and amidst discussions about the company’s potential in autonomous driving technology.
The Tesla Trade: The Tuesday sale was made through Ark Innovation ETF (NYSE:ARKK) and amounted to nearly $20.56 million, based on Tesla’s Tuesday closing price of $266.50. Wood’s Ark sold a total of 77,170 shares through the ETF.
Last week, Ark Invest’s flagship exchange-traded fund, the Innovation ETF offloaded a significant 51,155 Tesla shares. This sale would have garnered the firm a whopping $13.88 billion, considering Tesla’s closing price of $271.30 on that day.
Recently, the stock has recently experienced a rebound, with factors such as Morgan Stanley analyst Adam Jonas‘ upgrade of the stock playing a pivotal role. Cathie Wood has previously mentioned that the fund’s decision to sell Tesla shares isn’t a reflection of the company’s fundamentals but a strategic move to raise capital for other promising investments.
Ark projects a stock price surge for Tesla, reaching $2,000 by 2027, largely driven by the anticipated launch of its robotaxi service.
Other Key Trades:
- Teladoc Inc (NYSE:TDOC): Ark Invest purchased a substantial 75,364 shares through ARK Genomic Revolution ETF (BATS:ARKG).
- Roblox Corp (NYSE:RBLX): Ark acquired a notable 135,285 shares through ARKK.
- DraftKings Inc (NASDAQ:DKNG): Ark sold a significant 153,787 shares through ARKK.
- Ginkgo Bioworks Holdings Inc (NYSE:DNA): Ark bought a massive 777,468 shares through ARKK.
Photo courtesy Benzinga YouTube and Unsplash
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20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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