Cathie Wood’s Ark Invest made significant trades on Monday, including the purchase of shares in Shopify Inc. and Advanced Microdevices Inc. The Ark Fintech Innovation ETF purchased 34,060 Shopify shares, valued at around $2 million. Despite Shopify reporting a loss in the first quarter of 2024, Ark Invest saw potential in the company and made a substantial investment. The ARK Autonomous and Robotics Technology ETF also bought 10,459 shares of Advanced Micro Devices Inc, worth approximately $1.74 million.
While AMD did not perform as well as Nvidia Corporation in April, Microsoft Corp. plans to introduce AI chips from AMD to compete with Nvidia’s offerings. Ark Invest also made other key trades, including selling shares of Global-E Online Ltd. and Robinhood Markets Inc. through the ARKF fund, as well as selling shares of Exact Sciences Corporation through the ARKG fund and buying shares of CRISPR Therapeutics AG. Additionally, the ARKG fund sold shares of Teladoc Health Inc.
The GPT-4-based Benzinga Neuro content generation system, designed by Neuro Benzinga and edited by Shivdeep Dhaliwal, leverages the Benzinga ecosystem to create timely and rich stories. It utilizes native data, APIs, and other resources to produce content for readers.
In summary, Cathie Wood’s Ark Invest made strategic trades in Shopify and Advanced Microdevices Inc., demonstrating confidence in the potential of these companies despite recent performance results. The purchases align with the fund’s strategic focus on innovative and emerging technologies. Additionally, other key trades were made in various companies across different Ark Invest funds. The collaboration between Neuro Benzinga and Shivdeep Dhaliwal showcases the power of utilizing advanced technology in content generation to provide insightful and relevant information to readers.
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https://markets.businessinsider.com/news/etf/cathie-wood-s-ark-invest-buys-shares-of-nvidia-rival-amd-continues-its-shopify-share-buying-spree-1033405044
