On Thursday, Cathie Wood-led Ark Invest executed significant trades, notably involving Circle Internet Group Inc (NYSE:CRCL), Bitmine Immersion Technologies Inc (NYSE:BMNR), Bullish (NYSE:BLSH), Advanced Micro Devices Inc (NASDAQ:AMD), and Reddit Inc (NYSE:RDDT). These trades reflect Ark’s strategic positioning in the market, with particular focus on the tech and crypto sectors.
The Circle Trade
Ark Invest purchased 188,941 shares of Circle across multiple ETFs, including Ark Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW).
On Thursday, CRCL closed at $82.34, down 4.59%. Despite this dip, analysts at Bernstein remain optimistic about Circle’s potential, citing its strong third-quarter performance and a $230 price target. Bernstein flagged intensifying competition from "frenemies" like Stripe and PayPal, who are building their own stablecoin ecosystems. Still, analysts said USDC's (CRYPTO: USDC) liquidity edge continues to outpace rivals, and Circle's Arc blockchain and Payments Network rollout bolster its long-term positioning.
The total value of Ark’s purchase was approximately $15.5 million, calculated from the closing price and the number of shares acquired.
The Bitmine Immersion Trade
Ark Invest increased its holdings in Bitmine Immersion Technologies Inc through ARKF, ARKK, and ARKW by purchasing 242,347 shares. BMNR shares closed at $36.57, a 9.86% drop.
The company recently announced its Ethereum (CRYPTO: ETH) holdings, aiming to own 5% of the total supply. BitMine said it expanded its Ethereum holdings to 2.9% of total ETH supply, adding more than 110,000 ETH last week as it pushed toward its long-term 5% accumulation goal. The company now holds over 3.5 million ETH, along with 192 Bitcoin (CRYPTO: BTC) and $398 million in cash reserves. Chairman Tom Lee said growing institutional interest and Ethereum's role in tokenization continue to strengthen the firm's conviction.
Ark’s purchase amounted to around $8.9 million.
The Bullish Trade
Ark’s interest in Bullish was evident in the purchase of 177,480 shares through ARKF, ARKK, and ARKW. BLSH shares ended at $41.02, down 9.85%.
Bullish, backed by Peter Thiel, has been a focus for Ark, with previous million-dollar buys. The value of Ark’s latest acquisition was approximately $7.3 million, showcasing continued support for the crypto exchange.
The AMD Trade
Ark Invest reduced its AMD position by 87,051 shares through ARKK. AMD shares closed at $247.96, a 4.22% decrease. Ark’s sale was valued at about $21.6 million.
AMD's ambitious target of $20 EPS by 2030 drew mixed reactions from analysts. Some argued the stock already prices in these aggressive assumptions, while others warned the forecast depends heavily on steep growth, margin expansion and sustained hyperscaler spending.
The Reddit Trade
Ark Invest sold Reddit shares through ARKF and ARKW. Reddit shares closed at $189.42, down 6.61%. The sale of 39,854 shares was valued at $7.5 million.
Reddit recently beat expectations with third-quarter earnings of 80 cents per share and $585 million in revenue. Daily active users rose 19% to 116 million, while ad revenue surged 74%. Margins and cash flow also improved sharply, with adjusted EBITDA climbing to $236 million.
Other Key Trades:
- Regeneron Pharmaceuticals Inc (REGN) – Sold 12,083 shares through ARKG.
- Tempus AI Inc (TEM) – Bought 149,754 shares via ARKG and ARKK.
- CRISPR Therapeutics AG (CRSP) – Acquired 73,527 shares through ARKG and ARKK.
- Beam Therapeutics Inc (BEAM) – Purchased 140,193 shares via ARKG and ARKK.
- Salesforce Inc (CRM) – Sold 21,974 shares through ARKW.
Benzinga’s Edge Stock Rankings indicate AMD stock has a Value in the 5th percentile. Here is how the stock compares with other semiconductor plays.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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