Cathie Wood's Ark Invest Buys $6.9M Worth Of Shares Of Nvidia Rival AMD, Sells Palantir And Robinhood Stock

On Thursday, Cathie Wood’s Ark Invest made some significant trades, with Advanced Micro Devices Inc AMD, Robinhood Markets Inc HOOD, and Palantir Technologies Inc PLTR being the most prominent.

The AMD Trade: Ark Invest’s ARKK fund bought 45,541 shares of AMD through its flagship ARK Innovation ETF ARKK. The move comes after Oracle Corp’s executive confirmed AMD’s growing traction in the data center chip market for artificial intelligence. AMD is also shifting its focus to the gaming GPU market, aiming to capture 40%-50% of the total addressable market by focusing on mainstream and mid-range GPUs. Based on AMD’s closing price of $150.77 on the same day, the value of the trade is approximately $6.9 million.

The HOOD Trade: Ark Invest’s Ark Fintech Innovation ETF ARKF fund sold 19,518 shares of Robinhood worth $422,369. This comes after Robinhood agreed to a $3.9 million settlement with California's Department of Justice over its past ban on Bitcoin BTC/USD cryptocurrency withdrawals. Despite the settlement, Robinhood has been transitioning from a meme stock trading platform to a more mature and competitive player against traditional brokerages. Based on HOOD’s closing price of $21.64 on the same day, the value of the trade is approximately $422,000.

The PLTR Trade: Ark Invest’s ARKK fund sold 4,861 shares of Palantir. The transaction was made through ARKK. This move is part of Ark’s recent trend of selling Palantir shares. Based on PLTR’s closing price of $34.91 on the same day, the value of the trade is approximately $170,000.

See Also: How To Earn $500 A Month From Nvidia Stock

Other Key Trades:

• Ark Invest’s ARKG fund bought shares of Personalis. Ark Invest’s ARKG fund bought shares of Guardant Health Inc.
• Ark Invest’s ARKK fund bought shares of Draftkings Inc. Ark Invest’s ARKW fund bought shares of Rubrik Inc (RBRK).
• Ark Invest’s ARKX fund bought shares of Blade Air Mobility Inc (BLDE).

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal