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.
The AMD Trade
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.
The Bullish Inc. Trade
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.
The Tempus AI Trade
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.
The Figma Trade
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.
Other Key Trades
- ARKF bought 26,365 shares of Airbnb Inc (ABNB).
- ARKG acquired 62,313 shares of Arcturus Therapeutics Holdings Inc. (ARCT).
- ARKK purchased 615,831 shares of Intellia Therapeutics Inc. (NTLA).
- ARKK bought 69,889 shares of CRISPR Therapeutics AG (CRSP).
- ARKK acquired 81,777 shares of Beam Therapeutics Inc. (BEAM).
- ARKK sold 9,151 shares of Roku Inc. (ROKU).
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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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
