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On Thursday, Cathie Wood’s Ark Invest made some significant trades, with Advanced Micro Devices Inc (NASDAQ:AMD), Robinhood Markets Inc (NASDAQ:HOOD), and Palantir Technologies Inc (NYSE: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 (NYSE: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 (NYSE: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 (CRYPTO: BTC) 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:
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
