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TESLA BULL CATHIE WOOD, ONCE SKEPTIC OF LEGACY AUTOMAKERS' EV TRANSITION, LOADS
UP ANOTHER $5M IN GM STOCK

by Shanthi Rexaline, Benzinga Editor
September 20, 2022 5:18 AM | 2 min read



FOR ONLY $1:  You can learn during this bear market with full-time trader Chris
Capre & get his options trades in real-time. Click Here to Get His Next Trade!

Ark Invest, run by Cathie Wood bought roughly $5 million worth of General Motors
Corporation

GM-4.98%+ Free Alerts
shares on Monday, adding to the position she initiated in May.

What Happened: Ark, through its ARK Autonomous Technology & Robotics ETF

ARKQ-2.75%+ Free Alerts
bought 120,004 shares of GM. At Monday’s closing price of $41.39, the purchase
was worth $4.97 million.

Wood had previously shunned legacy automakers on the pretext that they did not
have the genes to make it big in the electric vehicle arena. She instead
preferred throwing her weight behind EV market leader Tesla Inc.

TSLA-4.59%+ Free Alerts
.

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The money manager, however, did express her appreciation for GM CEO Mary
Barra’s focus on the company’s Cruise self-driving unit.

See Also: Cathie Wood Says US Already In Recession, Slams The Fed For Worrying
More About Legacy Than Economy

Wood first bought into the legacy automaker in May this year. Ahead of Monday’s
buy, GM accounted for 0.54% of ARKQ by virtue of the 142,929 shares of the
exchange-traded fund held in the company. In comparison, Tesla is the top
holding of ARKQ, accounting for 12.37% of the ETF.






Ark Invest also holds Tesla in its flagship ETF, the ARK Innovation ETF
ARKK
, and the ARK Next Generation Internet ETF
ARKW
.

Why It’s Important: Wood’s positive stance on GM aligns with Wedbush analyst
Daniel Ives' recent comments that the company’s vertical integration
capabilities and conversion of its massive customer base to EVs over the coming
years present a transformation opportunity.

GM has an opportunity to lay the groundwork and ultimately convert 20% of its
massive customer base to EVs by 2026 and north of 50% by 2030, Ives had said.

Price Action: GM closed Monday’s session 3.55% higher at $41.39, according to
Benzinga Pro data.

Time is running out... to get access to our #1 rated options trading alerts for
only $1. Think of all the things you buy that are more than $1, perhaps an extra
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getting Real-time Options Trade Alerts from Full-time Trader Chris Capre for
Only $1!





© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved.

Posted In: ARK InvestCathie Woodelectric vehiclesEVsLong IdeasNewsBroad U.S.
Equity ETFsTrading IdeasETFs

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FREE: Follow your stocks and cryptocurrencies with the most actionable alerts on
the internet.
Click to Get Started


ELECTRIC VEHICLE STOCKS


TopGainersLosers

CompanyTickerPrice
▲▼
±%Avg. Vol
▲▼
Buy StockArcimoto
FUV
$1.52-12.51%$886.6KBuy/SellBeam Glb
BEEM
$12.35-7.77%$158.9KBuy/SellHyliion Holdings
HYLN
$2.95-6.35%$1.5MBuy/SellLuminar Technologies
LAZR
$7.37-6.3%$6.9MBuy/SellWorkhorse Gr
WKHS
$2.65-6.03%$4MBuy/SellPlug Power
PLUG
$22.59-5.66%$21.5MBuy/SellAYRO
AYRO
$0.68-5.5%$163.4KBuy/SellElectrameccanica Vehicles
SOLO
$1.26-5.27%$1.2MBuy/SellGeneral Motors
GM
$35.45-5.16%$14.7MBuy/SellTesla
TSLA
$275.05-4.7%$77.2MBuy/SellLi Auto
LI
$25.003.19%$11MBuy/SellArrival
ARVL
$0.862.78%$6MBuy/SellXL Fleet
XL
$0.920.94%$1.4MBuy/SellFisker
FSR
$8.000.62%$5.3MBuy/Sell

Get in real-time
Gainers

CompanyTickerPrice
▲▼
±%Avg. Vol
▲▼
Buy StockLi Auto
LI
$25.003.19%$11MBuy/SellArrival
ARVL
$0.862.78%$6MBuy/SellXL Fleet
XL
$0.920.94%$1.4MBuy/SellFisker
FSR
$8.000.62%$5.3MBuy/Sell

Get in real-time
Losers

CompanyTickerPrice
▲▼
±%Avg. Vol
▲▼
Buy StockArcimoto
FUV
$1.52-12.51%$886.6KBuy/SellBeam Glb
BEEM
$12.35-7.77%$158.9KBuy/SellHyliion Holdings
HYLN
$2.95-6.35%$1.5MBuy/SellLuminar Technologies
LAZR
$7.37-6.3%$6.9MBuy/SellWorkhorse Gr
WKHS
$2.65-6.03%$4MBuy/SellPlug Power
PLUG
$22.59-5.66%$21.5MBuy/SellAYRO
AYRO
$0.68-5.5%$163.4KBuy/SellElectrameccanica Vehicles
SOLO
$1.26-5.27%$1.2MBuy/SellGeneral Motors
GM
$35.45-5.16%$14.7MBuy/SellTesla
TSLA
$275.05-4.7%$77.2MBuy/Sell

Get in real-time
Session: Sep 22, 2022 8:00PM - Sep 23, 2022 7:59PM


TOP STORIES


1


TRUMP RECEIVED PAYMENT IN GOLD BARS WHEELED TO HIS APARTMENT, AMONG REVELATIONS
IN NEW BOOK

2


MAR-A-LAGO CASE SPECIAL MASTER ASKS TRUMP TO PAY $500 HOURLY FEE TO HIS
ASSISTANT OR FACE COURT SANCTION

3


TSLA : A 2014 TESLA HAS SURPASSED 1 MILLION MILES DRIVEN, BUT ONE COMPONENT HAD
TO BE REPLACED 8 TIMES

4


SOUTH KOREAN PRESIDENT CAUGHT CALLING US LAWMAKERS 'IDIOTS' ON HOT MIC: 'WOULD
BE SO HUMILIATING FOR BIDEN IF...'

5


PRESIDENT PUTIN SUFFERING FROM 'RAPIDLY PROGRESSING CANCER,' ON VERGE OF LOSING
SIGHT: REPORT

6


'THIS IS WHERE ALL THE RICH PEOPLE ARE GOING TO HIDE DURING THE APOCALYPSE':
NUCLEAR-POWERED SKY HOTEL REVEALED

7


PUTIN ISN'T BLUFFING ABOUT USING NUKES, SAYS EUROPEAN UNION: 'RUSSIAN ARMY HAS
BEEN PUSHED INTO A CORNER'

Tweets by elonmusk







BRITISH STANDARDS CERTIFIES TDCX'S CARBON FOOTPRINT REPORTING

by Sam Msiska, Benzinga Staff Writer
September 22, 2022 9:18 AM | 2 min read

Advertiser Disclosure


Countries around the world have teamed up to find solutions to climate change.

Over 120 delegates from nations around the world meet at the Conference of
Parties (COP) each year to review the implementation of the United Nations’
framework convention on climate change. 


BIG COMPANIES JOIN THE MOVEMENT

While countries are pushing for net-zero carbon emissions by 2050, renowned
corporations have joined forces in the fight against climate change by pledging
to reduce their carbon footprint by a certain amount each year. 

A total of more than 300 companies, including Amazon.com Inc.

AMZN-3.01%+ Free Alerts
, Microsoft Corp.

MSFT-1.27%+ Free Alerts
and Uber Technologies Inc.

UBER-2.66%+ Free Alerts
have signed The Climate Pledge and agreed to achieve net-zero carbon by 2040.


TOWARDS CARBON NEUTRALITY

Companies such as TDCX Inc.

TDCX+1.26%+ Free Alerts
, a digital customer experience solutions provider, announced last year that it
had reduced its overall carbon footprint, supporting the shift toward a
low-carbon economy.

TDCX reportedly achieved carbon neutrality by taking a two-step process —
reducing its carbon output and offsetting what the company is unable to lessen
by using carbon credits, through the United Nations Carbon Offset Platform. As
of last year, TDCX offset 38,770 tons of carbon dioxide — the equivalent of the
amount of carbon produced by 8,400 vehicles in a year.

“At TDCX, we believe that businesses play an important role in promoting and
accelerating sustainability. Given the far-reaching impact of climate change, we
made it a priority to reduce our carbon footprint across our operations
globally,” TDCX Founder and CEO Laurent Junique said.

The company is launching a number of environmental, social and governance (ESG)
initiatives, including regular tree planting and other activities aimed at
conserving water, minimizing single-use plastics and reducing waste through
recycling.


A MILESTONE IN SUSTAINABILITY REPORTING

TDCX recently received a satisfactory opinion statement from the British
Standards Institution (BSI), confirming that the company’s carbon footprint
report reasonably meets the ISO 14064-1:2018 criteria for greenhouse gas
management system documentation.

This validates TDCX’s claim that it has achieved carbon neutrality with a
verified greenhouse gas report accompanied by the company's U.N.-certified
emission reduction certificate.

Eliza Acuña, TDCX vice president of business strategy, said that while it wasn’t
an easy process given the differing requirements of the various markets TDCX has
a presence in, the milestone is an important achievement for the company. She
said, “We have long been an environmentally conscious company and the process
helped us to understand our carbon footprint and to take steps in reducing it.
“. 

This post contains sponsored advertising content. This content is for
informational purposes only and is not intended to be investing advice

Featured photo by Gerd Altmann from Pixabay



© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved.

Posted In: Partner ContentTDCXMovers & ShakersSmall CapGeneral


TRENDING ARTICLES


WHAT HISTORIC UK TAX CUTS MEAN FOR THE MARKETS: 'MATERIAL INCREASE IN RISKS'

The iShares MSCI United Kingdom ETF (NYSE: EWU) plummeted 5.3% on Friday after
investors were not impressed by an aggressive series of tax cuts unveiled by the
new U.K. government.


BULLS AND BEARS OF THE WEEK: APPLE, TESLA, AMAZON AND WHY JIM CRAMER TURNED
BEARISH ON THIS CHIPMAKER

Benzinga has examined the prospects for many investors' favorite stocks over the
past week, here's a look at some of our top stories. 


WHY YOU SHOULD CARE ABOUT THE LATEST INTEREST RATE HIKE: FROM MORTGAGES TO
PERSONAL LOANS, CREDIT CARDS AND THE JOB MARKET

Wednesday marked the last day of summer as well as the confirmation of a new
hike to the federal funds rate of 0.75%.


WATCH OUT! THIS ACTIVIST INVESTOR MAY PUT PRESSURE ON THESE 3 HIGH-YIELDING
STOCKS

Trian Partners was founded in 2005 by activist investor Nelson Peltz, who has a
history of buying up shares, securing board seats and orchestrating M&A deals.


TESLA PLANS TO HAVE THOUSANDS OF HUMANOID ROBOTS WORK IN ITS FACTORIES

Tesla Inc.'s (NASDAQ: TSLA) AI Day 2 is coming up on Sept.



























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