Cathie Wood’s ARK Innovation ETF sold nearly 58,000 shares of Tempus AI on August 25 for approximately $4 million, locking in profits after a 38% rally in a single week. The catalyst for the surge was positive clinical trial data for a personalized mRNA cancer vaccine developed by Merck and Moderna. Before the trim, Tempus AI was the fund’s second-largest holding. ARKK has experienced approximately $1.7 billion in net outflows over the past twelve months, which constrains Wood to sell winning positions to meet redemptions.
Source: Read the original article
