ARK Sells $111M AMD Stock, Buys Nvidia, Tesla, and More
Cathie Wood's ARK Investment Management has made significant moves in its portfolio, selling off AMD stock and buying into Nvidia, Tesla, and other high-growth technology companies. The most notable transaction was the sale of 181,767 shares of Advanced Micro Devices (AMD), worth $110,490,706 across its various ETFs.
This sale continues a trend of divestment from AMD, as ARK has been reducing its position in the semiconductor company. On the buying side, ARK made a significant investment in NVIDIA Corporation (NVDA), purchasing 356,681 shares worth $81,630,013 across its various ETFs.
ARK also acquired 48,352 shares of Tesla Inc (TSLA) through its ARKK ETF, totaling $17,283,422. This purchase aligns with ARK's ongoing confidence in Tesla's leadership in the electric vehicle market.