<div id="readability-page-1"><div><div>On Thursday, Cathie Wood-led Ark Invest made significant trades, prominently featuring the purchase of Tesla Inc. TSLA shares across multiple ETFs. This move comes amidst a backdrop of strategic sell-offs in other notable cryptocurrency-linked stocks like Coinbase Global Inc. COIN, Block Inc. XYZ, and Robinhood Markets Inc. HOOD, along with ARK 21Shares Bitcoin ETF ARKB.The Tesla TradeArk Invest’s decision to increase its stake in the EV maker was executed through three of its ETFs: ARK Innovation ETF ARKK, ARK Autonomous Technology &amp; Robotics ETF ARKQ, and ARK Next Generation Internet ETF ARKW. The total shares acquired amounted to 143,190, with ARKK purchasing 101,398 shares, ARKQ adding 24,345 shares, and ARKW acquiring 17,447 shares. Based on Tesla’s latest closing price of $305.30, the total value of these transactions is approximately $43.7 million.This strategic move follows Tesla’s recent financial results, where the company reported second-quarter revenue of $22.5 billion, falling short of the expected $22.8 billion. Despite these challenges, Ark Invest remains bullish on Tesla, as highlighted by their continued investment. The Elon Musk-led company is still on track to release new models in 2025 and 2026, which could potentially bolster its market position.The Coinbase TradeArk Invest reduced its holdings in the cryptocurrency trading platform by selling shares across two ETFs: ARKK and ARKW. The total shares sold were 30,501, with ARKK offloading 27,614 shares and ARKW selling 2,887 shares. The total value of the transaction was $12.1 million, based the stock’s closing price of $396.70. This decision comes as Coinbase’s stock recently hit a new 52-week high, driven by a positive analyst revision and favorable legislative developments. So far this year, Coinbase stock has popped 54.2% amid soaring Bitcoin BTC/USD prices. The apex cryptocurrency touched a fresh all-time high last week of $123,091.61.Notably, despite the sell-off, Coinbase continues to show strength in the market, with a revised price target of $470 from Rosenblatt analyst Chris Brendler.The Block TradeArk Invest also trimmed its position in Block, selling 123,169 shares through the ARKK ETF. The transaction was valued at $9.8 million, based on the stock’s closing price of $79.77 on Thursday. This move follows Block’s announcement of joining the S&amp;P 500, which led to a recent spike in the company’s stock. The fintech company, founded by Jack Dorsey, holds over $1 billion in Bitcoin, positioning it as a significant player in the cryptocurrency space.As Block prepares for its S&amp;P 500 debut, Ark Invest’s decision to sell shares could be seen as a strategic realignment, potentially to capitalize on the stock’s recent gains. The company’s strong performance and market position continue to attract investor interest.The Robinhood TradeArk Invest reduced its stake in the retail-oriented trading platform Robinhood Markets by selling 11,262 shares through the ARKW ETF. The transaction was valued at $1.1 million. Robinhood stock closed at $101.93 on Thursday. The company’s stock has been gaining traction, with its breakout potential highlighted by market analysts. The stock’s technical strength sets it apart, making it a noteworthy player in the retail trading space.Robinhood remains a key component of Jim Cramer’s 2025 ‘PARC’ basket, which includes other prominent companies like Palantir Technologies and Applovin Corp.The ARKB TradeArk Invest also sold 28,906 shares of its Bitcoin-oriented ETF through the ARKW ETF. The transaction was valued at $1.1 million as ARKB ended Thursday at $39.57. The ETF, which focuses on Bitcoin investments, has been part of Ark’s portfolio amid the growing interest in digital currencies.Notably, Ark has been selling ARKB shares recently. It offloaded 225,742 shares, worth $8.74 million in mid-July. Other Key Trades:<ul> <li>Sold 93,460 shares of Roblox Corp (RBLX) through ARKK.</li> <li>Sold 100,236 shares of Kratos Defense and Security Solutions Inc (KTOS) through ARKQ and 7,638 shares through ARKX.</li> <li>Sold 6,764 shares of AeroVironment Inc (AVAV) through ARKQ.</li> <li>Bought 471,024 shares of Iridium Communications Inc (IRDM) through ARKK, ARKQ and ARKX.</li> </ul>Benzinga's Edge Stock Rankings indicate Tesla stock checks out on Medium and Long Price Trends. Find out how the stock stacks up on other parameters.Photo Courtesy: ChrisStock82 on Shutterstock.com<ul> <li>Intel, Deckers Outdoor, Unitedhealth, Dow, And American Airlines: Why These 5 Stocks Are On Investors’ Radars Today</li> </ul>This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal</div></div></div>

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Cathie Wood's Ark Invest purchased $43.7 million in Tesla shares while selling off positions in several cryptocurrency-related stocks, including Coinbase, Block, and Robinhood. The investment in Tesla was made through three ETFs, acquiring 143,190 shares. In contrast, Ark sold 30,501 shares of Coinbase, 123,169 shares of Block, and 11,262 shares of Robinhood. The moves reflect a strategic shift as Ark capitalizes on Tesla's potential and adjusts its cryptocurrency holdings amid market fluctuations.

- Ark Invest, led by Cathie Wood, significantly increased its stake in Tesla Inc. by purchasing 143,190 shares across three ETFs, totaling approximately $43.7 million.  
- This move follows Tesla's second-quarter revenue of $22.5 billion, which fell short of expectations, yet Ark remains optimistic about the company's future model releases.  
- Concurrently, Ark sold shares in cryptocurrency-linked stocks, including Coinbase, Block, and Robinhood, as part of a strategic realignment amid market fluctuations.

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Cathie Wood Pounces On Tesla Dip: Ark Snaps Up $43.7 Million In EV Stock While Ditching Crypto Shares Amid Bitcoin Frenzy