Rachit Vats, Author at Elite Stock Chat

PATH – Cathie Wood Can't Get Enough Of Uipath, Buys Another $17M Shares

Written by Rachit Vats on July 12, 2021. Posted in PATH, Stock Report.

Cathie Wood-led Ark Investment Management on Friday snapped up 247,130 shares, estimated to be worth about $16.9 million, in UiPath Inc (NYSE:PATH).

Shares of the New York-based software automation company closed 0.16% higher at $68.49 on Friday.

The investment firm bought the shares of UiPath via the Ark Innovation ETF(NYSE:ARKK).

Ark owns PATH shares via all of its six active ETFs. On a consolidated basis, the Wood-led firm held over 12.5 million shares, worth around $855 million, in UiPath ahead of Friday’s trade.

The products of the Bucharest, Romania-based software company are used by organizations to help efficiently automate their various business processes. PATH closed 5.34% higher on Wednesday, giving the company a market valuation of $35.8 billion.

Some of the other key Ark Invest buys on Friday include Quantum-Si Inc (NASDAQ:QSI) and sells include Huya Inc (NYSE:HUYA).

Photo Courtesy: Uipath

Your Resource for Non-Stop Trade Ideas

Join ZINGERNATION on “Power Hour”, as we work hard to deliver trade ideas every day.

[embedded content]

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

TSLA – Cathie Wood Loads Up $71M In Tesla On Dip

Written by Rachit Vats on July 8, 2021. Posted in Stock Report, TSLA.

Cathie Wood-led Ark Investment Management on Wednesday snapped up 110,731 shares, estimated to be worth about $71.38 million, in Tesla Inc (NASDAQ:TSLA) on the dip.

Tesla shares closed 2.26% lower at $644.65 on Wednesday and have advanced about 7.6% since Ark last bought the company’s shares in early June.

The New York-based investment deployed the Ark Innovation ETF (NYSE:ARKK) to buy the shares and also hold Tesla stock via two other traded funds, namely, the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ) and the Ark Next Generation Internet ETF (NYSE:ARKW).

All three ETFs – ARKK, ARKQ and ARKW- count Tesla among their largest holdings and together held about 4.93 million shares, worth $3.25 billion, in the electric vehicle company ahead of Wednesday’s trade.

A Tesla bull, Ark Funds had in March updated its price target on electric vehicle maker’s stock to $3,000 per share, to be reached by 2025.

Some of the other key Ark Invest buys on Wednesday included Coinbase Global Inc (NASDAQ:COIN), UiPath Inc (NYSE:PATH), Quantum-Si Inc (NASDAQ:QSI) and sells included Pluristem Therapeutics Inc (NASDAQ:PSTI) and Pure Storage Inc (NYSE:PSTG).

Your Resource for Non-Stop Trade Ideas

Join ZINGERNATION on “Power Hour”, as we work hard to deliver trade ideas every day.

[embedded content]

NVDA – Nvidia Launches Supercomputer To Help Advance Fields Of Digital Biology, Genomics

Written by Rachit Vats on July 7, 2021. Posted in NVDA, Stock Report.

Chip supplier Nvidia Corp (NASDAQ: NVDA) on Tuesday launched Cambridge-1, which it claims is the fastest supercomputer in the United Kingdom, dedicated to the healthcare industry.

What Happened: With a $100 million investment behind it, Nvidia has opened access to Cambridge-1 to scientists, healthcare experts, and pharma companies such as AstraZeneca Plc (NYSE: AZN) and GlaxoSmithKline Plc (NYSE: GSK).

Cambridge-1 supercomputer’s artificial intelligence and simulation prowess will help U.K.-based researchers advance the fields of digital biology and genomics, the company said in a statement.

“The discoveries developed on Cambridge-1 will take shape in the U.K., but the impact will be global, driving groundbreaking research that has the potential to benefit millions around the world,” Nvidia CEO Jensen Huang said.

Among its first healthcare-related projects, Cambridge-1 will help researchers and scientists develop a deeper understanding of brain diseases such as dementia, using AI to design new drugs and improving the accuracy of finding disease-causing variations in human genomes, as per Nvidia.

Price Action: Nvidia shares closed 1.03% higher at $827.94 on Tuesday.

For news coverage in French, Italian, or Spanish, check out Benzinga France, Benzinga Italia, or Benzinga España.

TSLA – Elon Musk Says New UI Coming For All Tesla Cars With FSD Computers

Written by Rachit Vats on July 6, 2021. Posted in Stock Report, TSLA.

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk on Monday said the updated version of the electric vehicle maker’s full self-driving software release will carry a fresh user interface as well.

What Happened: In a tweet response, Musk said all Tesla vehicles with the FSD computer will be equipped with an updated UI or the “mind of car view.” Musk was responding to a query on whether the Model 3 and Model Y would eventually see new UI. The Tesla CEO noted that all Model 3s and Model Ys can be upgraded to have FSD computers.

Yes, updated UI coming with FSD wide release. All cars with FSD computer will have new “mind of car” view. All 3/Y can be upgraded to have FSD computer.

— Elon Musk (@elonmusk) July 6, 2021

The Palo Alto, California-based company has rolled its FSD Beta program out to a small set of testers — who have shown the car can make impressive moves, like dodging a deer on dirt roads. The closed beta will expand to a larger group of people.

Why It Matters: Last month, Tesla revealed a new UI for its quickest production car the Model S Plaid with features such as drag-and-drop elements and other improvements.

The electric automaker is working towards fully autonomous cars and says each of the electric vehicles that it sells is equipped with the hardware necessary for full self-driving.

Price Action: Tesla shares closed 0.14% higher at $678.90 on Friday.

TSLA – Tesla Accounted For 31% Of All EVs Registered In UK In June

Written by Rachit Vats on July 6, 2021. Posted in Stock Report, TSLA.

Tesla Inc (NASDAQ: TSLA) topped the electric vehicle registration market share in the United Kingdom in June, as per a report by Electrek.

What Happened: During the month, Tesla grabbed 31% of all EV registration share in the U.K., more than thrice than that of the nearest biggest rival Volkswagen AG (OTC: VWAGY), the report noted — citing registration data. Ford Motor Company (NYSE: F) accounted for 1.57% of all EVs registered in the month.

The Elon Musk-led electric vehicle maker registered 4,930 vehicles in June in the country this year, compared with 2,461 vehicles a year ago.

In Q1 2021, Tesla delivered 7,304 electric cars in the U.K. — more than anywhere else in Europe. In Q2, the automaker delivered 7,767 vehicles, a bulk of which were shipped in June, as per the Electrek report.

Why It Matters: The U.K. is turning out to be an important market for Tesla and sales are expected to rise further once the automaker starts making the right-hand-drive Model Y.

The United Kingdom and Germany, which are part of the Group of Seven nations, have committed to banning new gas-powered vehicle sales by 2030.

Canada is the latest country among G7 nations to set tighter deadlines. Japan is currently targeting 2035, while France and the United States plan to ban sales by 2040. Italy is the only member of the G7 that has yet to make a commitment on this front.

Price Action: Tesla shares closed 0.14% higher at $678.90 on Friday.

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

For news coverage in French, Italian, or Spanish, check out Benzinga France, Benzinga Italia, or Benzinga España.

ROKU – Cathie Wood Sells $11M In Roku

Written by Rachit Vats on July 2, 2021. Posted in ROKU, Stock Report.

Cathie Wood-led Ark Investment Management on Thursday shed 25,300 shares, estimated to be worth about $11 million, in Roku Inc (NASDAQ: ROKU).

Shares of the San Jose, California-based company that makes a host of digital media players for video streaming, closed 5.13% lower at $435.67 on Thursday.

Roku shares had jumped as much as 5% on Wednesday after the media-streaming expert revealed an Apple Inc (NASDAQ: AAPL) sponsored button on its remote controls.

The New York-based investment firm deployed the Ark Next Generation Internet ETF (NYSE: ARKW) to sell the shares on Thursday. It also holds a stake in ROKU via the Ark Innovation ETF (NYSE: ARKK).

ARKK and ARKW together still held 4.2 million shares, worth about $1.93 billion, in Roku ahead of Thursday’s trade.

Some of the other key Ark Invest sells on Thursday include Pluristem Therapeutics Inc (NASDAQ: PSTI), Pagerduty Inc (NYSE: PD) and buys include Quantum-Si Inc (NASDAQ: QSI) and Vuzix Corp (NASDAQ: VUZI).

Photo by BagoGames on Flickr

PLTR – Cathie Wood Sells $18.7M In Palantir

Written by Rachit Vats on July 1, 2021. Posted in PLTR, Stock Report.

Cathie Wood-led Ark Investment Management on Wednesday shed more weight in Palantir Technologies Inc (NYSE: PLTR), its second such sale in the data analytics company in recent months.

The investment firm sold 710,825 shares, estimated to be worth about $18.74 million, in the Peter Thiel-backed company on the day shares of the company closed 1.01% lower at $26.36 on Wednesday.

Ark Invest deployed ARK Next Generation Internet ETF (NYSE: ARKW) to buy the shares on Wednesday. The Ark Innovation ETF (NYSE: ARKK) also holds Palantir stock.

Together, the two ETFs held 28.48 million shares, worth about $762.48 million, ahead of Wednesday’s trade.

Some of the other key Ark buys on Wednesday included UiPath Inc (NYSE: PATH) and Quantum-Si Inc (NASDAQ: QSI) sells include Pluristem Therapeutics Inc (NASDAQ: PSTI).

Photo by Cory Doctorow on Flickr

PATH – Cathie Wood Buys Another $9.6M In Uipath, Raises Stake In Automation Company To $670M

Written by Rachit Vats on June 28, 2021. Posted in PATH, Stock Report.

Cathie Wood-led Ark Investment Management on Friday snapped up 136,859 shares, estimated to be worth about $9.55 million, in UiPath Inc (NYSE:PATH).

Shares of the New York-based software automation company closed 1.04% higher at $69.77 on Friday.

The investment firm made the purchase via the Ark Genomic Revolution ETF (BATS:ARKG).

Ark owns PATH shares via all of its six active ETFs. On a consolidated basis, the Wood-led firm now holds over 10 million shares, worth around $670 million in UiPath.

Some of the other key Ark Invest sells on Friday include Pluristem Therapeutics (NASDAQ:PSTI) and buys include Quantum-Si Inc (NASDAQ:QSI).

Your Resource for Non-Stop Trade Ideas

Join ZINGERNATION on “Power Hour”, as we work hard to deliver trade ideas every day.

[embedded content]

MTSI – Why MACOM Is Poised To Break Out From Here

Written by Rachit Vats on June 28, 2021. Posted in MTSI, Stock Report.

TSLA – Tesla Tells Norwegian Authorities Will Open Supercharger Network To All Automakers Next Year

Written by Rachit Vats on June 25, 2021. Posted in Stock Report, TSLA.

Tesla Inc (NASDAQ: TSLA) will begin opening up its Supercharger network to rival electric automakers starting September 2022, as per an Electrek report.

What Happened: As per the report, the Elon Musk-led electric vehicle company had recently been in contact with officials in Norway to secure incentives for setting up charging stations. Norway, however, awards incentives only to charging stations that are open to all automakers.

Tesla has applied for benefits to expand five fast-charging stations, agreed to meet the conditions for open use and for the first time set a timeline as to when it plans to open the network for all, as per Electrek.

The Palo Alto, California-based company’s vast charging network is so far 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.

Why It Matters: Tesla has been rapidly scaling up its charging infrastructure amid rising competition from rivals and 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, Electrify America or ChargePoint Holdings (NYSE: CHPT) to charge their EVs.

At the same time, rivals such as Nio Inc (NYSE: NIO) and Xpeng Inc (NYSE: XPEV) have developed their own charging networks and have already scaled up presence in China, a key market for Tesla’s growth, even as they eye expansion in Europe and the United States.

Price Action: Tesla shares closed 3.54% higher at $679.82 on Thursday.

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

Author: Rachit Vats