Cathie Wood's Ark Invest Bumps Up Stake In This Chipmaker After Selling $10M Worth Of Nvidia Last Week
Portfolio Pulse from Shanthi Rexaline
Ark Invest, led by Cathie Wood, has increased its stake in Advanced Micro Devices (AMD) while continuing to divest from Nvidia (NVDA). Ark purchased 14,978 shares of AMD, valued at $1.58 million, through its Ark Autonomous Technology and Robotics ETF (ARKQ). Meanwhile, Ark's Ark Genomic Revolution ETF (ARKG) sold 21,014 Nvidia shares worth $9.79 million last week. Ark has been selling Nvidia shares since October 2022 due to the company's high valuation and the attractiveness of other smaller AI plays.
September 12, 2023 | 7:28 am
News sentiment analysis
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NEGATIVE IMPACT
The sale of Nvidia shares through ARKG could potentially decrease the ETF's value.
The sale of Nvidia shares from ARKG's portfolio could potentially decrease the ETF's value, particularly if Nvidia's stock price drops as a result of decreased investor confidence.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest's continued divestment from Nvidia could negatively impact the company's stock price.
Ark Invest's continued selling of Nvidia shares, coupled with the firm's comments on the company's high valuation, could lead to a decrease in investor confidence and a potential drop in Nvidia's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark Invest's purchase of AMD shares indicates a positive outlook for the company.
Ark Invest's decision to increase its stake in AMD suggests that the firm sees potential in the company's future performance, particularly in the AI sector. This could lead to increased investor interest and a potential rise in AMD's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The purchase of AMD shares through ARKQ could potentially increase the ETF's value.
The addition of AMD shares to ARKQ's portfolio could potentially increase the ETF's value, particularly if AMD's stock price rises as a result of increased investor interest.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80