5 days ago
Ark Investment Management LLC funds sold almost 89,000 shares in Tesla and added more than 236,000 of Robinhood, according to the firm’s daily trading update. They’ve added about 390,000 Robinhood shares so far this month. Wood has unloaded $200M of Tesla this month and buys $10M Robinhood as stock trades 43% below peak. @Bloomberg
10 days ago
“Valuation corrections don’t always require market pullbacks, but they do constrain returns,” the strategists wrote. “With the current cycle advancing very quickly, the risk that the correction is hard is growing.”
12 days ago
The Atlanta-based company, which previously said it had deliberately restricted home sales as it struggled to acquire windows and lumber, now expects to report 7,000 closings in the third quarter, down from a range of 7,300 to 7,600, according to a statement Wednesday. The company also cut its guidance for the full year. The shares fell more than 4% much in early trading. The stock had gained 22% this year through Tuesday’s close. @Bloomberg
12 days ago
Avianca Holdings SA's stock has dropped 45% in the last week as the Colombian airline contemplates a bankruptcy exit strategy that will almost certainly render the equity worthless. According to data collated by Bloomberg, the airline, which was forced into Chapter 11 last year due to the pandemic and travel bans, plunged 6% in Bogota trading Monday, extending losses for the fifth day. On Monday, shares were trading at roughly 119 pesos (about 3 cents). According to a regulatory filing, a US judge will review the airline's Chapter 11 departure strategy, which includes the possibility of transforming some of its bankruptcy loans into stock in a reformed holding company. @Bloomberg
