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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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
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