Cathie Wood's Ark Invest Scoops Up Shares Of AMD And Palantir — Dumps Moderna Stock Worth $4.4M
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made significant trades involving AMD, Palantir, and Moderna. Ark bought shares of AMD and Palantir while selling Moderna stock worth $4.4 million. These trades reflect Ark’s strategic adjustments amidst market movements.
May 29, 2024 | 3:26 am
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POSITIVE IMPACT
Ark Invest bought 7,861 shares of AMD for ARKW, valued at $1.35 million. AMD's stock closed 3.2% higher at $171.61, driven by strong growth in servers, CPUs, and GPUs.
The purchase of AMD shares by Ark Invest and the positive stock performance indicate a bullish sentiment. AMD's strong growth in key areas further supports this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Ark Invest’s ARKX fund acquired 9,773 shares of Palantir worth $205,721. Palantir's stock closed 0.2% higher at $21.05 amidst market fluctuations.
The acquisition of Palantir shares by Ark Invest suggests confidence in the company's future performance despite recent market fluctuations.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold 28,670 shares of Moderna worth approximately $4.4 million. Moderna's stock saw a decline of 8.05%, closing at $153.20.
The significant sell-off of Moderna shares by Ark Invest and the recent decline in stock price indicate a bearish outlook for the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100