Author: Rachit Vats

ROKU – Cathie Wood's Ark Invest Sheds Another $35M In Square, Snaps $19M in Roku

Written by Rachit Vats on . Posted in ROKU, Stock Report.

Cathie Wood-led Ark Invest on Friday shed another 127,800 shares, estimated to be worth about $35.16 million, in Square Inc (NYSE:SQ), booking more profits as the stock recorded a 10% weekly gain.

SQ shares closed 2.38% lower at $275.10 on Friday but surged 11.3% in the week after a solid earnings beat. The Jack Dorsey-led financial services and digital payment company said it had agreed to purchase buy-now, pay-later company Afterpay in an all-stock deal valued at $29 billion.

Ark Invest deployed both Ark Innovation ETF (NYSE:ARKK) to sell Square shares on Friday. The investment firm also holds a position in Square via the Ark Next Generation Internet ETF (NYSE:ARKW) and the Ark Fintech Innovation ETF (NYSE:ARKF).

See Also: Square Scores With Afterpay Acquisition And Bitcoin Revenue, But Cathie Wood Sells The News. What To Do In Case She Was Right.

Together, the three ETFs held about 6.57 million shares, worth $1.85 billion, in Square ahead of Friday’s trade. A week ago, just before the shares surged, Ark Invest held over 7 million shares, worth $1.74 billion in Square.

The New York-based investment management firm also bought 48,880 shares, estimated to be worth about $19.14 million, in Roku Inc (NASDAQ:ROKU), on the dip — the second straight buy after three months of selling its positions in the streaming media player.

Roku shares closed 2.98% lower at $391.47 on Friday.

See Also: Roku Stock Pulls Back After Q2 Earnings: Has Streaming Growth Peaked?

Ark Invest deployed ARKK to buy shares in the San Jose, California-based company on Friday and also holds positions via the Ark Next Generation Internet ETF (NYSE:ARKW).

Together the two ETFs held 3.87 million, worth $1.56 billion, in Roku ahead of Friday’s trade. 

Some of the other key Ark Invest buys on Friday included UiPath Inc (NYSE:PATH) and sells included Signify Health Inc (NYSE:SGFY).

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TWTR – Cathie Wood Loads Up $88M In Twitter After Jack Dorsey Highlights Bitcoin's Role In Social Media Company's Future

Written by Rachit Vats on . Posted in Stock Report, TWTR.

Cathie Wood-led Ark Investment Management firm on Friday snapped up 123,786 shares, estimated to be worth $88.74 million, in Twitter Inc (NYSE:TWTR), a day after CEO Jack Dorsey told investors that apex cryptocurrency Bitcoin (CRYPTO: BTC) will be a “big part” of the social media company’s future.

Shares of Twitter closed 3.05% higher at $71.69 on Friday. 

In a post-earnings call, Dorsey told investors he sees a potential to integrate the cryptocurrency with Twitter products and services and believes Bitcoin is the “best candidate” to become the native currency of the Internet.

Dorsey is also the founder of payments company Square Inc (NYSE:SQ), which has invested in the apex cryptocurrency.

Ark Invest deployed the two ETFs — the Ark Innovation ETF (NYSE:ARKK) and the Ark Next Generation ETF (NYSE:ARKW) — to buy the shares in the San Francisco, California-based company. No other Ark ETF holds shares of Twitter.

Twitter is now ARKW’s third-largest investment among a total of 50 stocks and the twentieth-largest investment among a total of 50 stocks for ARKK.

See Also: Cathie Wood Can’t Get Enough Of Bitcoin, Adds Another $54M In Square, $14M In Coinbase

The two ETFs together held over 10.9 million TWTR shares, worth about $759.13 million, as of Friday. 

The popular investment firm had earlier this month, in its last trade on the Twitter stock, shed an estimated $9 million worth of shares.

Some of the other key Ark Invest buys on Friday included Quantum-Si Inc (NASDAQ:QSI), UiPath Inc (NYSE:PATH), and Draftkings Inc (NASDAQ:DKNG) and sells included Nintendo Co (OTC:NTDOY), and Roku Inc (NASDAQ:ROKU).

TSLA – Elon Musk Says Tesla To Open Supercharger Network To Other EVs Later This Year

Written by Rachit Vats on . Posted in Stock Report, TSLA.

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said on Tuesday the electric vehicle maker was the first to create a charging system with capabilities to handle both low and high-power charging connections at a time when it was the only company making long-range electric vehicles.

What Happened: Musk tweeted to say there was no standard design during the early days and it created a simple dual-purpose connector, adding that its Supercharger network will open to other electric vehicles later this year.

“It’s one fairly slim connector for both low and high power charging,” Musk responded to a Twitter post supporting Tesla’s proprietary charging connector.

Why It Matters: Tesla connectors are different from other recent electric vehicle automakers and charging companies. The Palo Alto, California-based company also has a huge head start in terms of the supercharger network that it is laying out globally.  

Tesla’s vast charging network is so far mostly exclusive to Tesla owners. The company has however in the past indicated that it is open to the idea of sharing the Supercharger network with other automakers.

See Also: Tesla Tells Norwegian Authorities Will Open Supercharger Network To All Automakers Next Year

As per earlier reports, Tesla planned to begin opening up its Supercharger network to rival electric automakers starting September 2022.

Amid rising competition, Tesla has quickly deployed more than 25,000 chargers at over 2,700 stations around the world.  

So far, other electric vehicles can turn to third-party networks such as Ionity, Volkswagen AG’s (OTC: VWAGY) Electrify America or ChargePoint Holdings (NYSE: CHPT) for charging.

See Also: Nio Ups Target For Battery Swap Stations To 700 For This Year: What You Need To Know

At the same time, rivals such as Nio Inc (NYSE: NIO) and Xpeng Inc (NYSE: XPEV) who are now eyeing expansion to Europe and the United States, have developed their own charging networks and are scaling up presence in China, a key market for Tesla’s growth.

Price Action: Tesla shares closed 2.21% higher at $660.50 on Tuesday.

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

F – Ford Answers Tesla's Lower-Priced Model Y With Mach-E Variant That Also Qualifies For Subsidies In China

Written by Rachit Vats on . Posted in F, Stock Report.

Ford Motor Co (NYSE: F) has added another variant of its all-electric sports utility vehicle Mustang Mach-E in China for under RMB 300,000 ($46,000), thus qualifying it for state-led subsidies, the company announced on Saturday.

What Happened: The Detroit-based automaker has started accepting bookings for the new long-range rear-drive version RMB 282,000 ($43,500) after subsidies.

The new variant is priced above a previously announced standard range rear-wheel-drive version that is priced at RMB 265,000 ($40,899).

Ford now has two Mach-E variants among five that qualify for the subsidies.

The automaker said it added a second model that qualifies for a subsidy after listening to user needs. The latest addition will have an increased range of 105 kilometers (65.24 miles), the company said.

Only vehicles priced below RMB 300,000 are eligible for the new energy vehicle subsidy in China. 

See Also: Tesla Introduces Lower-Priced Model Y In China That Would Qualify For Subsidies

Why It Matters: Tesla Inc’s (NASDAQ: TSLA) locally-built, more affordable variant of electric mid-size SUV Model Y in China, which qualifies for a subsidy as well, is reportedly receiving a flood of orders after the Elon Musk-led company introduced it earlier this month.

The locally-built Model Y standard variant in China is sold under RMB 300,000 ($46,000) and is expected to begin deliveries in August.

Chinese rival Nio Inc (NYSE: NIO) sells the six-seater and seven-seater ES8 SUV, five-seater ES6s and five-seater EC6 coupe models, which are more expensive and not eligible for the subsidies as they are all priced over the RMB 300,000 limit.

See Also: Nio Posts Record Monthly-Deliveries In June As High Demand Overshadows Chip Shortage, Sees 116% Surge

Price Action: Ford shares closed 2.86% lower at $13.61 on Friday.

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news.

Photo: Courtesy of Ford

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

DKNG – Cathie Wood Loads Up Another $7M In DraftKings

Written by Rachit Vats on . Posted in DKNG, Stock Report.

Cathie Wood-led Ark Investment Management on Monday snapped up 137,133 shares, estimated to be worth about $6.74 million, in DraftKings Inc (NASDAQ:DKNG), its second trade in the sports betting company in the aftermath of a negative short-seller report last month.

Shares of the Boston, Massachusetts-based company closed 0.14% lower at $49.16 on Monday.

A Hindenburg report published last month claimed DraftKings’ fully-owned unit SBTech to be a red flag within the DraftKings business.

See Also: Cathie Wood Loads Up $42M In DraftKings As Shares Drop On Short-Seller Report

The New York-based investment owns the shares of DraftKings via three of its active ETFs — the Ark Innovation ETF (NYSE:ARKK), the Ark Next Generation Internet ETF (NYSE:ARKW) and the Ark Fintech Innovation ETF (NYSE:ARKF). 

Ark Invest deployed ARKW on Monday to buy the shares of the sports betting company.

On a consolidated basis, Ark now held 12.2 million shares, worth $599.17 million, in DraftKings, ahead of Monday’s trade. 

See Also: Cathie Wood Can’t Get Enough Of Uipath, Buys Another $17M Shares

Some of the other key buys for Ark on Monday included Coinbase Global Inc (NASDAQ:COIN), UiPath Inc (NYSE:PATH), Zoom Video Communications Inc (NASDAQ:ZM) and sells included Roku Inc (NASDAQ:ROKU), PayPal Holdings Inc. (NASDAQ:PYPL) and JD.com Inc (NASDAQ:JD).

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WMT – Walmart Indian Unit That Rivals Amazon Raises $3.6B In Fresh Capital

Written by Rachit Vats on . Posted in Stock Report, WMT.

Walmart Inc (NYSE: WMT)-owned Indian e-commerce retailer Flipkart said on Monday it has raised $3.6 billion from a consortium of investors including Japan’s SoftBank Group (OTC: SFTBY), which returns as a financial backer.

What Happened: The fresh fundraise values the online retailer at $37.6 billion and comes at a time as the Bengaluru-based startup is exploring listing in the United States.

Walmart bought a controlling stake in Flipkart three years ago for $16 billion.

Besides SoftBank, investment was led by GIC, Canada Pension Plan Investment Board, and Walmart, the company said.

Why It Matters: Flipkart has more than 350 million registered users and plans to increase investments in technology, supply chain and infrastructure as it focuses on categories such as fashion, travel and groceries.

Judith McKenna, president and CEO of Walmart International, said in a statement that “Flipkart is a great business whose growth and potential mirrors that of India as a whole — that’s why we invested in 2018 and why we continue to invest today.”

Flipkart’s main rival in the country is Amazon.com Inc (NASDAQ: AMZN), which has poured billions of dollars and made strides in the Indian e-commerce landscape with its offerings.

Price Action: Walmart shares closed 0.51% higher at $140.30 on Friday.

Read Next: Walmart India Subsidiaries Seeing ‘Strong Growth’ And Retailer Has Plans To Further Capitalize On The Market

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

AMZN – Amazon Suffers Another Widespread Outage

Written by Rachit Vats on . Posted in AMZN, Stock Report.

E-commerce giant Amazon.com Inc (NASDAQ: AMZN) is down for several users across the United States late Sunday, as per the outage monitoring website Downdetector.

What Happened: More than 37,000 user reports have reported facing an outage with Amazon’s e-commerce website in the one hour leading to press time, according to Downdetector.

Eighty percent of the users have reported having issues accessing the Amazon.com website, while 15% said they faced issued with logging in. Another 5% have reported issues with the check-out process.

Downdetector tracks outages from users and other source errors submitted on its platform.

See Also: Jeff Bezos Is Officially No Longer The Amazon CEO

Multiple Twitter users are also noting the Amazon outage.

Why It Matters: The reason behind the outage isn’t immediately clear. This is the second outage reported with the Amazon website in less than a month. Users earlier experienced a brief outage on Amazon platforms including Alexa and Prime Video, as per a Reuters report.

Price Action: Amazon shares closed 0.32% lower at $3,719.34 on Friday.

Update [2:10 a.m., Tuesday]: Amazon has since said that the issues have been resolved.

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