Cathie Wood's Ark Invest Buys Shares Of Nvidia-Rival AMD, Continues Its Shopify Share-Buying Spree
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made significant trades, purchasing shares of Shopify Inc (SHOP) and Advanced Micro Devices Inc (AMD). Ark Invest's ETFs, including ARKF and ARKQ, were involved in these trades. Shopify's stock fell after its Q1 earnings report, but Ark Invest saw potential and bought 34,060 shares. AMD shares were also purchased, valued at $1.74 million, despite recent underperformance compared to Nvidia. Additionally, Ark Invest sold shares of Global-E Online Ltd (GLBE), Robinhood Markets Inc (HOOD), Exact Sciences Corp (EXAS), and Teladoc Health Inc (TDOC), while buying shares of CRISPR Therapeutics AG (CRSP).
May 21, 2024 | 2:56 am
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POSITIVE IMPACT
Ark Invest's ARKQ ETF purchased 10,459 shares of AMD, valued at approximately $1.74 million. This comes despite AMD's recent underperformance compared to Nvidia.
The purchase of AMD shares by Ark Invest's ARKQ ETF suggests a positive outlook on AMD's future, especially with potential AI chip developments.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ark Invest's ARKF ETF purchased shares of Shopify and sold shares of Global-E Online Ltd and Robinhood Markets Inc.
The trades made by ARKF ETF indicate a strategic shift towards Shopify while divesting from Global-E Online and Robinhood Markets.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Ark Invest's ARKQ ETF purchased shares of AMD, valued at approximately $1.74 million.
The purchase of AMD shares by ARKQ ETF suggests a positive outlook on AMD's future, especially with potential AI chip developments.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Ark Invest purchased 34,060 shares of Shopify after its Q1 earnings report showed a revenue increase but a significant loss. The trade was valued at approximately $2 million.
Despite Shopify's stock falling after its Q1 earnings report, Ark Invest's significant purchase indicates confidence in the company's future potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100