Cathie Wood's Ark Trims Nvidia Stake By $2.7M To Load Up On Rival Chip Stock: Here Are Other Big Ticket Buys From Wednesday
Portfolio Pulse from Shanthi Rexaline
Ark Investment Management, led by Cathie Wood, has continued to sell shares of Nvidia Corp. (NVDA), with concerns over the chipmaker's stretched valuation. The firm's Ark Autonomous Technology & Robotics ETF (ARKQ) sold 6,489 shares of Nvidia, while the Ark Innovation ETF (ARKK) has fully liquidated its Nvidia position. Instead, ARKQ bought 24,066 shares of rival chipmaker Advanced Micro Devices, Inc. (AMD). Additionally, Ark's Next Generation Internet ETF (ARKW) bought shares of Meta Platforms, Inc. (META), Robinhood Markets, Inc. (HOOD), and Roku, Inc. (ROKU).
July 06, 2023 | 6:43 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ark's ARKQ bought 24,066 shares of AMD, indicating a positive sentiment towards the chipmaker.
The purchase of AMD shares by Ark's ARKQ could lead to a positive sentiment among other investors, potentially impacting the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark added 93,320 shares of Robinhood Markets, indicating a positive sentiment towards the company.
The purchase of Robinhood Markets shares by Ark could lead to a positive sentiment among other investors, potentially impacting the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark's ARKW bought 5,486 shares of Meta Platforms, indicating a positive sentiment towards the company.
The purchase of Meta Platforms shares by Ark's ARKW could lead to a positive sentiment among other investors, potentially impacting the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark added 29,038 shares of Roku, indicating a positive sentiment towards the company.
The purchase of Roku shares by Ark could lead to a positive sentiment among other investors, potentially impacting the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Investment Management has been selling shares of Nvidia due to concerns over its valuation.
The selling of Nvidia shares by a major investment firm like Ark could lead to a negative sentiment among other investors, potentially impacting the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100