On Tuesday, Cathie Wood-led Ark Invest executed significant trades involving Advanced Micro Devices Inc. (NASDAQ:AMD), Shopify Inc. (NASDAQ:SHOP), and CoreWeave Inc. (NASDAQ:CRWV).
The AMD Trade
Ark Invest made a notable move by selling shares of Advanced Micro Devices Inc across multiple ETFs, including ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW). The total shares sold amounted to 45,917, translating to a value of approximately $16.3 million, based on AMD’s closing price of $355.26 on Tuesday.
This decision follows AMD’s impressive first-quarter earnings report, where the company exceeded revenue expectations with $10.25 billion, surpassing analyst estimates of $9.89 billion. The chipmaker’s adjusted earnings per share also beat forecasts, coming in at $1.37 compared to the expected $1.29. AMD’s strong performance is attributed to the growing demand for AI technologies.
…
This post was originally published here
