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On Tuesday, Cathie Wood-led Ark Invest executed significant trades, including buying shares of Advanced Micro Devices Inc. (NASDAQ:AMD) and Bullish Inc. (NYSE:BLSH), while selling shares of Tempus AI Inc. (NASDAQ:TEM). Additionally, Ark purchased Figma Inc. (NYSE:FIG) stock, reflecting strategic adjustments in its investment portfolio.
Ark Fintech Innovation ETF (BATS:ARKF) picked up 25,899 shares of AMD on Tuesday, a purchase valued at about $4.1 million based on AMD's closing price of $160.46.
This move comes amid concerns over the U.S. government’s investment in Intel Corp., which Fitch Ratings suggests might lead to inefficiencies in the semiconductor sector.
ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) together added 161,183 shares of Bullish on Wednesday, a transaction valued at about $8.3 million, with the stock closing at $51.36.
Bullish, the cryptocurrency platform, which allows users to trade assets like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), recently raised $1.1 billion in its U.S. IPO. The company is reportedly poised to benefit from a significant crypto tailwind. Rosenblatt's Chris Brendler started coverage on Bullish with a Buy rating, citing political tailwinds and its U.S. debut as a major catalyst. JPMorgan's Kenneth Worthington initiated with a Neutral, noting institutional growth but warning the business was still subscale.
Last week, Ark Invest purchased $1.9 million worth of Bullish stock.
Ark Invest offloaded 167,598 shares of Tempus AI across its ARK Genomic Revolution ETF (BATS:ARKG) and ARKK, a sale valued at about $14.6 million based on the stock's closing price of $87.04.
This decision follows Tempus AI’s recent FDA clearance for its AI-powered cardiac imaging platform. Notably, last week, Ark sold 5.2 million worth of Tempus AI stock.
ARKW bought 109,678 shares of Figma, a purchase valued at about $5.9 million, with the stock closing at $53.67.
Earlier in the month, Ark had purchased $5.9 million worth of Figma stock. Last week, the Wood-led firm added another $4.8 million worth of shares.
Ark’s continued investment in Figma highlights its confidence in the company’s long-term growth prospects, despite recent setbacks like disappointing earnings.
Benzinga's Edge Stock Rankings indicate AMD stock has a Value in the 9th percentile. Here is how it compares against other semiconductor stocks like Nvidia.
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Photo Courtesy: PJ McDonnell on Shutterstock.com
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Posted In: $BTC $ETH AMD ARKF ARKG ARKK ARKW BLSH BTC FIG TEM
