Cathie Wood’s Ark Invest made some significant moves in the market on Thursday, with several notable trades involving Advanced Micro Devices Inc (AMD), Robinhood Markets Inc (HOOD), and Palantir Technologies Inc (PLTR).
AMD’s Rise in the Data Center and Gaming Markets
Ark Invest’s flagship ARK Innovation ETF (ARKK) bought 45,541 shares of AMD, valued at approximately $6.9 million. This move comes after an Oracle Corp executive confirmed AMD’s growing presence in the data center chip market for artificial intelligence. AMD is also aggressively targeting the gaming GPU market, aiming to capture a significant market share by focusing on mainstream and mid-range GPUs.
Robinhood’s Settlement and Transition
Ark Invest’s Ark Fintech Innovation ETF (ARKF) sold 19,518 shares of Robinhood, worth approximately $422,000. This trade follows Robinhood’s recent agreement to settle a $3.9 million lawsuit with California’s Department of Justice concerning its past ban on Bitcoin withdrawals. Despite this settlement, Robinhood is actively transitioning from its meme stock trading image to a more competitive platform against traditional brokerages.
Palantir’s Continued Sell-Off
Ark Invest’s ARKK fund sold 4,861 shares of Palantir, valued at approximately $170,000. This transaction marks a continuation of Ark’s recent trend of reducing its stake in the data analytics company.
Other Notable Trades:
Beyond these major trades, Ark Invest also made several other purchases, including:
* Shares of Personalis in the ARKG fund.
* Shares of Guardant Health Inc in the ARKG fund.
* Shares of Draftkings Inc in the ARKK fund.
* Shares of Rubrik Inc (RBRK) in the ARKW fund.
* Shares of Blade Air Mobility Inc (BLDE) in the ARKX fund.
These trades highlight Ark Invest’s strategic positioning in the market, with a focus on technology, fintech, and other high-growth sectors. The firm’s decisions are closely watched by investors seeking insights into the future of the market.
