Ark Innovation ETF Buys $11.4M of Tempus AI After 7.3% Drop
Ark Innovation ETF purchased 212,825 Tempus AI shares for $11.4 million after the stock dropped 7.3% to $53.71 post-earnings. The firm also sold 42,563 Pinterest shares valued at $748,000 via Next Generation Internet and Blockchain & Fintech ETFs following a volatile fourth-quarter report.
1. Tempus AI Purchase Details
Ark Innovation and Genomic Revolution ETFs acquired a combined 212,825 shares of Tempus AI at Wednesday’s closing price of $53.71, investing $11.4 million after the stock dropped 7.32% following a quarterly report showing a $0.04 loss per share in Q4.
2. Pinterest Share Sale
Ark’s Next Generation Internet and Blockchain & Fintech Innovation ETFs disposed of 42,563 Pinterest shares at $17.57, raising approximately $747,800 after the social media firm reported Q4 revenue of $1.3 billion and guided Q1 sales below estimates.
3. Implications for Ark ETFs
These trades reflect a strategic rebalancing within Ark Innovation’s portfolio, potentially signaling confidence in AI-driven growth at Tempus and caution toward social media exposure, which may influence fund performance and investor sentiment.