Cathie Wood-Led Ark Picks Up $5.3M Worth Of TSMC Shares— Also Picks Up Palantir, Amazon Stock Amid Ongoing AI Frenzy
Portfolio Pulse from Benzinga Neuro
Cathie Wood-led Ark Invest made significant trades in TSMC, Palantir, and Amazon amid the ongoing AI frenzy. The ARKW fund bought $5.33M worth of TSMC shares, ARKX purchased $242,869 worth of Palantir shares, and ARKX also acquired $470,641 worth of Amazon shares. These trades were influenced by positive ratings and price targets from analysts, as well as strategic business moves by the companies.
June 18, 2024 | 3:55 am
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ARKX fund bought $470,641 worth of Amazon shares. This follows a previous $9.9M purchase after Amazon's acquisition of NBA media rights, expected to boost Prime Video subscribers.
The purchase by ARKX and the strategic acquisition of NBA media rights, which is expected to boost Prime Video subscribers, are likely to drive Amazon's stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ARKX fund purchased $242,869 worth of Palantir shares. Argus Research initiated coverage with a Buy rating and a $29 price target, citing growth in both commercial and government segments.
The purchase by ARKX and the positive initiation by Argus Research, along with growth in Palantir's commercial and government segments, are likely to drive Palantir's stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
ARKW fund bought $5.33M worth of TSMC shares, influenced by Susquehanna's positive rating and increased price target. TSMC plans to raise prices for its 3nm wafers and advanced packaging, with major clients like Apple and Nvidia reserving capacity until 2026.
The purchase by ARKW and the positive rating from Susquehanna, along with TSMC's price increase plans and strong client reservations, are likely to drive TSMC's stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100