Cathie Wood-led Ark Invest executed significant trades, including buying shares of Advanced Micro Devices (AMD) and Bullish Inc., while selling shares of Tempus AI. Ark also purchased Figma Inc. stock, reflecting strategic adjustments in its investment portfolio. The trades highlight Ark's confidence in AMD and Figma's long-term growth prospects, despite recent setbacks.
Cathie Wood-led Ark Invest executed significant trades on September 11th, reflecting strategic adjustments in its investment portfolio. The fund purchased shares of Advanced Micro Devices (AMD) and Bullish Inc., while selling shares of Tempus AI Inc. Additionally, Ark Invest acquired Figma Inc. stock, signaling confidence in the long-term growth prospects of these companies despite recent setbacks.
The Tempus AI Trade
Ark Invest sold 8,864 shares of Tempus AI across its ARK Genomic Revolution ETF (ARKG) and ARK Innovation ETF (ARKK), totaling approximately $5.2 million
Cathie Wood's Ark Pivots: Sells Tempus AI After FDA Win, Loads Up On Amazon, Figma And This Trendy Crypto Stock[1]. This move follows Tempus AI's recent achievement of 510(k) clearance from the FDA for its updated Tempus Pixel, an AI-powered cardiac imaging platform. While this clearance enhances the platform's capabilities, Ark's sale suggests a shift in focus.
The Bullish Trade
Ark Invest's Ark Fintech Innovation ETF (ARKF) acquired 34,746 shares of Bullish on September 11th, valued at approximately $1.9 million
Cathie Wood's Ark Pivots: Sells Tempus AI After FDA Win, Loads Up On Amazon, Figma And This Trendy Crypto Stock[1]. Bullish, a company making waves in the cryptocurrency sector, recently raised around $1.1 billion in its U.S. IPO. Analysts remain optimistic about Bullish's potential, although concerns about scalability persist.
The Amazon Trade
The ARK Next Generation Internet ETF (ARKW) purchased 13,087 shares of Amazon, valued at approximately $3 million, based on Thursday's closing price of $229.95
Cathie Wood's Ark Pivots: Sells Tempus AI After FDA Win, Loads Up On Amazon, Figma And This Trendy Crypto Stock[1]. This move aligns with Amazon's recent advancements, including the launch of its Zoox robotaxi service on the Las Vegas Strip.
The Figma Trade
ARKW also acquired 85,535 shares of Figma on September 11th, with the transaction valued at approximately $4.8 million, given the closing price of $55.96
Cathie Wood's Ark Pivots: Sells Tempus AI After FDA Win, Loads Up On Amazon, Figma And This Trendy Crypto Stock[1]. Despite mixed second-quarter results, Figma's revenue exceeded expectations. Analysts maintained an Equal-Weight rating on Figma, with price targets ranging from $70 to $80.
Other Key Trades
ARKF purchased 286,026 shares of Klarna Group PLC (KLAR), 78,149 shares of Toast Inc. (TOST), and 35,309 shares of eToro Group Ltd. (ETOR)
Cathie Wood’s ARK buys Figma, Bullish, and eToro stocks[2].
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