ARK Invest Buys Rocket Lab and Block Shares While Selling AMD and Palantir
TLDR
- ARK Invest sold 7,450 AMD shares worth around $3.4 million across two funds on September 1
- ARK bought over 700,000 Rocket Lab shares across two trading days, worth roughly $44.5 million combined
- ARK purchased 456,059 Block shares worth $38.1 million as the stock dipped
- ARK funded purchases partly by selling around $26 million of Palantir, plus stakes in Tempus AI and Shopify
- Wall Street holds Strong Buy ratings on both AMD and Rocket Lab, with AMD targeted at $647 and Rocket Lab at $110.60
Cathie Wood’s ARK Invest made a series of trades on September 1, selling some technology holdings while pouring fresh capital into Rocket Lab and Block.
ARK Trims AMD and Palantir
ARK sold a combined 7,450 Advanced Micro Devices shares across its ARKQ and ARKX funds. Based on AMD’s closing price of $459.61, the sales totalled roughly $3.4 million.
ARK still holds around $160 million worth of AMD across its ETFs. The sales are a small reduction, not an exit.
AMD has had a strong run, giving ARK reason to lock in some profits through routine rebalancing.
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