On Monday, Cathie Wood-led Ark Invest made a notable move by selling nearly $4 million worth of NVIDIA Corp NVDA shares. This significant trade comes in the wake of Wood’s previous remarks about the tech giant being “really expensive and very obvious”.
The NVIDIA Trade
Ark sold 8983 shares of the Jensen Huang-led company through the ARK Genomic Revolution ETF ARKG. The transaction was valued at $4.02 million — based on the stock’s closing price of $447.82 on Monday.
Ark Invest's decision to offload NVIDIA shares aligns with Cathie Wood's earlier sentiments. Wood has been vocal about her perspective, considering other less obvious but profitable avenues in the AI sector. The sale of NVIDIA, a company that recently crossed $1 trillion in market cap due to its 191% surge year to date, appears to underscore Ark's strategy to optimize its portfolio.
See Also: Ark’s NVIDIA Stake Dwindles Further
Other Key Trades:
- Ark Invest purchased 92,853 shares of SomaLogic Inc SLGC, a notable player in the biotechnology sector through ARKG.
- The firm also acquired 45,1942 shares of Recursion Pharmaceuticals RXRX, marking a significant addition to its holdings through ARKG.
- 22,220 shares of Beam Therapeutics Inc BEAM were added to Ark's portfolio, emphasizing its focus on innovative biotech firms through.
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