Cathie Wood's Ark Invest Makes Big Moves on Nvidia, Sells AMD Shares
Cathie Wood's Ark Invest has been busy making significant investment decisions. The firm made substantial purchases of NVIDIA Corporation (NVDA) shares across multiple ETFs, including ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Technology ETF (ARKW), and ARK Space & Defense Innovation ETF (ARKX). This totals 356,681 shares, valued at approximately $81 million based on the closing price of $227.21.
This move follows NVIDIA's announcement of a $150 billion stock buyback, which has been seen as a strong signal of confidence in the company's future performance. The buyback is expected to further elevate NVIDIA's stock.
Ark Invest also increased its stake in Tesla Inc. (TSLA) by purchasing 48,352 shares through ARKK. This investment is valued at around $17.1 million based on Tesla's closing price of $352.84.