Cathie Wood Sells $12.8 Million Of Alphabet, Days After The Stock Suffered Its Worst Day Since Its 2004 IPO, Losing Nearly Half A Trillion Dollars In Market Value
Cathie Wood's ARK Invest sold $12.8 million worth of Alphabet stock after the company's worst day since its 2004 IPO, when it lost nearly half a trillion dollars in market value. The sale comes as some investors see an opportunity to buy the dip in Alphabet stock. Alphabet's Q3 free cash flow turned negative at -$9.1 billion amid a significant capital expenditure plan of $195 billion to $205 billion.
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- ✓ Cathie Wood's ARK Invest sold $12.8 million of Alphabet stock.
- ✓ Alphabet's stock suffered its worst day since its 2004 IPO, losing nearly half a trillion dollars in market value.
- ✓ Alphabet's Q3 free cash flow was -$9.1 billion.
- ✓ Alphabet's capital expenditure plan is $195 billion to $205 billion.
What changed
ARK Invest sold $12.8 million worth of Alphabet stock, as reported by multiple sources, confirming the sale and its value.
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Cathie Wood Sells $12.8M of Alphabet Stock
Cathie Wood's ARK Invest sold $12.8 million worth of Alphabet stock after the company's worst day since its 2004 IPO, when it lost nearly half a trillion dollars in market value. The sale comes as some investors see an opportunity to buy the dip in Alphabet stock. Alphabet's Q3 free cash flow turned negative at -$9.1 billion amid a significant capital expenditure plan of $195 billion to $205 billion.
Why it matters
This sale is notable as it comes after a significant decline in Alphabet's stock price. The company's third-quarter report led to a 12.64% drop in its Class A shares to $283.82 on October 29, the steepest decline since its 2004 IPO. This move by ARK Invest is being watched by investors as they assess the company's future prospects.
What is confirmed
- Cathie Wood's ARK Invest sold $12.8 million of Alphabet stock.
- Alphabet's stock suffered its worst day since its 2004 IPO, losing nearly half a trillion dollars in market value.
- Alphabet's Q3 free cash flow was -$9.1 billion.
- Alphabet's capital expenditure plan is $195 billion to $205 billion.
What to watch next
- ARK Invest's future moves with Alphabet stock
- Alphabet's Q4 earnings report
- Impact of capital expenditure on Alphabet's financials
confidence 100%Sources used for this update (11)
- www.marketbeat.com — ARKK News Today | Why did ARK Innovation ETF go up today?
- Barron's — Alphabet Is on the Ropes. It’s an Opening for Long-Term Investors.
- Barchart.com — Why Investors Should Load Up on Google Stock Now
- 24/7 Wall St. — Cathie Wood Sells $12.8 Million Of Alphabet, Days After The Stock Suffered Its Worst Day Since Its 2004 IPO, Losing Nearly Half A Trillion Dollars In Market Value
- Yahoo Finance — Alphabet’s Asymmetry Is All You Need To Know About to Hit ‘Buy’
- Seeking Alpha — Alphabet: The Advertising Phenomenon Investors Always Miss (NASDAQ:GOOG)
- finance.yahoo.com — Cathie Wood Is Buying The Dip In Nvidia As She Adds $45.9 ...
- finance.yahoo.com — Cathie Wood Sells $12.8 Million Of Alphabet, Days After The ...
- financebuzz.com — Cathie Wood Sells a Tech Giant Sitting in Most 401(k)s After ...
- mlq.ai — Cathie Wood's ARK trims Alphabet after the stock's worst day ...
- reportify.cn — 礼来 - 财报，业绩电话会，研报，新闻 - Reportify
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