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One of Tesla's most vocal investors sold more than $39 million of the stock ahead of the company's earnings report

27 days ago   |   By Business Insider

Kyle Grillot/Reuters
A RK Investment Management, a relatively small but extremely vocal supporter of Tesla , has trimmed its stake by 150,000 shares ahead of the company's earnings report to be released Wednesday.
Ren Leggi, the firm's lead portfolio manager, said ARK's conviction is strong as ever, but the sales were related to overall trading strategies.
Tesla remains the top holding in ARK's portfolio, at around 10% of its investments.
The electric-car company will report third-quarter earnings on Wednesday, when there's historical precedent for shares to move up to 10% in either...
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An investment firm raked in $730 million in a single day after making a huge bet on a biotech stock

An investment firm raked in $730 million in a single day after making a huge bet on a biotech stock

27 days ago   |   By Business Insider

Reuters
Investment firm Baker Bros. Advisors profited $730 million Monday after its stake in Seattle Genetics soared on positive drug news, according to Bloomberg data .
The biotech company's tucatinib treatment surpassed expectations in a recent breast cancer study and improved the condition for patients whose cancer had reached their brains, the company said .
Baker Bros. held a 29% stake in the company as of June 30, a position now worth about $5 billion after the positive drug news.
Watch Seattle Genetics trade live here .
Investment firm Baker Bros. Advisors netted a $730 million...
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