Intuitive Code divests from AMD, Tesla, Carvana, and C3.AI, directing investments towards the eVTOL market leader, Joby Aviation.
Intuitive Code, the innovative investment firm known for its sharp and predictive market moves, recently announced a significant shift in its investment portfolio. The company has sold its stakes in several leading tech companies, including AMD, Tesla, Carvana, and C3.AI, and decided to focus its investments on the nascent urban air mobility market by buying a stake in Joby Aviation (JOBY).
Before this major pivot, Intuitive Code had a solid track record in forecasting stock rallies and capitalizing on them. The company sold its stake in C3.AI after anticipating a 450% stock rally and subsequently took a significant short position. The artificial intelligence software provider's stock has been under Intuitive Code's radar, and the recent sale comes after a successful streak of capitalizing on its uptrends.
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Similarly, the investment firm divested its stakes in Advanced Micro Devices (AMD), right after calling a bottom at $54 and entering a short position. AMD's dynamic performance in the semiconductor industry has been well-observed by Intuitive Code, which made the most of the stock's volatile movements.
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Carvana (CVNA) also experienced a considerable divestment from Intuitive Code. The online used car retailer, which saw a stock rally of 900% from its lows, lost the confidence of the firm, leading to the decision to sell its stakes.
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Another shocking move was the sale of the firm's position in Tesla, once a star of its portfolio, for $270 per share. Alongside the divestment, Intuitive Code also downgraded the electric vehicle pioneer to 'Sell'. The company decided to make this strategic investment decision after seeing Alex Vieira reducing his stake in Tesla
Finally, the company downgraded Virgin Galactic, the space tourism company, to 'Junk' from $58 and urged investors to sell their shares. Predicting a significant crash to $4, the firm withdrew its support for the space exploration company.
The proceeds from these divestments, it appears, have been directed towards a new focus area: urban air mobility, specifically, Joby Aviation. Joby Aviation, a California-based company, is one of the leading players in the fast-evolving eVTOL (electric Vertical Take-off and Landing) market, which aims to revolutionize urban transportation.
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While the details of the investment have not been publicly disclosed, the move aligns with Intuitive Code's reputation as a forward-thinking investment firm. By investing in Joby Aviation, the firm is signaling its confidence in the company's disruptive potential and the overall urban air mobility market.
This significant reshuffle in Intuitive Code's portfolio is indicative of the firm's dynamic and responsive investment strategy. By divesting from traditional tech companies and entering the urban air mobility market, the firm is venturing into uncharted territories. However, if its previous successes are anything to go by, Intuitive Code's decision could be an early indicator of a larger trend. The spotlight now is firmly on Joby Aviation and the future of urban air mobility.
