Cathie Wood's Ark Invest Snaps Up $5.3M In Beaten-Down Crowdstrike Shares, Dumps $3.7M Worth Of Tesla Sto

　　On Monday, Cathie Wood-led Ark Investmade significant trades involving CrowdStrike Holdings IncCRWD and Tesla IncTSLA, despite the turbulent market conditions surrounding these companies.

　　The CrowdStrike Trade

　　The Ark Fintech Innovation ETFARKF and ARK Next Generation Internet ETFARKW funds bought a total of 20,219 shares of CrowdStrike, valued at approximately $5.34 million based on the closing price of $263.91 on the same day. This move comes despite CrowdStrikes recent challenges.

　　CrowdStrikes shares had been declining following a global IT outage last week, for which the cybersecurity firm has accepted responsibility.

　　CEO George Kurtzattributed the outage to “a defect found in a single content update” and confirmed it was not a security incident or cyberattack. Despite this, analysts predict the outage could cost over $1 billion, with potential lawsuits and demands for remuneration looming.

　　Former hedge fund manager and TV anchor Jim Cramerhas praised Crowdstrike‘s response to the outage and expressed optimism about the company’s future. He also appreciated Kurtz‘ handling of the tech glitch that affected users of Microsoft’s Windows operating system.

　　“CrowdStrike has unbelievable technology and it was not their technology that was the problem, it was a sloppy update, of which he completely owned,” said Cramer.

　　The Tesla Trade

　　Ark Invests ARKW fund sold 14,859 shares of Tesla, valued at approximately $3.74 million based on the closing price of $251.51 on the same day. Ark Invest is typically bullish stance on the Elon Musk-led electric vehicle maker.

　　Ark Invest has been selling Tesla shares in recent sessions, despite Wood‘s optimistic outlook on the company’s potential in the autonomous taxi sector. Wood has a $2,600 target for the EV maker. Tesla is set to report second-quarter earnings on Tuesday.

　　Other Key Trades:

• Ark Invests ARKF fund sold shares of Kaspi.kz AO (KSPI).
• Ark Invests ARKG fund sold shares of Teladoc Health Inc (TDOC) and bought shares of 10X Genomics Inc (TXG).
• Ark Invests ARKK fund sold shares of Teladoc Health Inc (TDOC) and bought shares of 10X Genomics Inc (TXG).
• Ark Invests ARKQ fund bought shares of Oklo Inc (OKLO).

　　This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

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