On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Advanced Micro Devices Inc AMD, Palantir Technologies Inc PLTR and Moderna Inc MRNA. These trades reflect Ark’s strategic adjustments amidst market movements.
The AMD Trade
Ark bought 7,861 shares of AMD for ARK Next Generation Internet ETF ARKW. The transaction was valued at $1.35 million. On Tuesday, the chipmaker’s stock closed 3.2% higher at $171.61.
AMD claimed a 33% share in the server CPU market as it readies its next-gen processors and unveils a GPU roadmap. CFO Jean Hu highlighted strong growth in servers, CPUs, and GPUs, citing partnerships and transitions to AMD-based infrastructure. Analysts anticipate semiconductor industry optimism despite challenges.
The Palantir Trade
Ark Invest’s ARK Space Exploration & Innovation ETF ARKX fund acquired 9,773 shares of Palantir Technologies Inc PLTR worth $205,721. This move to buy the shares through ARKX comes after Palantir’s recent stock performance, which has been under scrutiny. According to a Benzinga report, Palantir has been experiencing fluctuations due to market conditions and investor sentiment. On Tuesday, Palantir shares closed 0.2% higher at $21.05.
The MRNA Trade
On the same day, Ark Invest’s ARK Genomic Revolution ETF ARKG and ARK Innovation ETF ARKK funds sold a combined total of 28,670 shares of Moderna. The shares were sold at a closing price of $153.20, amounting to a total value of approximately $4.4 million. The decision to sell comes after Moderna’s stock saw a decline of 8.05% on Tuesday.
This sell-off follows Moderna’s recent performance, which was highlighted as one of the best-performing large-cap stocks last week as experts predicted a rise in COVID-19 infections in the summer, according to another Benzinga report.
Other Key Trades:
- Sold shares of Unity Software Inc U from ARKK
- Bought shares of UiPath Inc PATH for ARKK and sold stock of Nu Holdings Ltd NU from ARKW
- Bought shares of Roblox Corp RBLX for ARKK
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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