Ark Invest, led by Cathie Wood, made significant trades on Monday, including purchasing shares of Shopify Inc. (SHOP) and Advanced Microdevices Inc. (AMD). Ark Invest’s Ark Fintech Innovation ETF acquired 34,060 shares of Shopify, valued at approximately $2 million, after the company released its first-quarter earnings report. Despite Shopify reporting a loss of $273 million, Ark Invest saw potential in the e-commerce platform company and made a substantial investment.
In addition, Ark Invest’s ARK autonomous and robotics technology ETFs purchased 10,459 shares of Advanced Micro Devices Inc., valued at approximately $1.74 million. While AMD did not impress investors at the end of April, Microsoft is planning to introduce AI chips from AMD to compete with Nvidia Corporation.
Ark Invest also made other key trades, including selling shares of Global-E Online Ltd. and Robinhood Markets Inc. while buying shares of CRISPR Therapeutics AG. These trades reflect Ark Invest’s strategy of investing in companies with high growth potential.
Overall, Cathie Wood’s Ark Invest continues to be an influential player in the market, making strategic trades and investments in companies across various sectors. Their recent trades in Shopify and AMD highlight their confidence in the long-term potential of these companies despite short-term challenges.
In conclusion, Ark Invest’s recent trades in Shopify and Advanced Micro Devices Inc. demonstrate their continued focus on innovative companies with significant growth opportunities. These investments reflect Cathie Wood’s belief in the long-term potential of these companies and their ability to deliver value to investors over time.
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https://www.benzinga.com/markets/equities/24/05/38931122/cathie-woods-ark-invest-buys-shares-of-nvidia-rival-amd-continues-its-shopify-share-buying-spree