Ark Invest’s Strategic Moves
On August 6, 2024, Cathie Wood’s Ark Invest made significant trades in technology stocks:
Reddit Investment
Ark Invest bought shares of Reddit via ARKF, valued at $1.95 million. This follows Reddit’s strong Q2 performance with a 54% revenue increase and a 51% rise in daily active users, despite stock pressures due to pre-IPO lockup expiry and low revenue growth per user.
Amazon Acquisition
Ark Invest acquired shares of Amazon across several ETFs (ARKK, ARKQ, ARKW, ARKF, ARKX), worth around $6.5 million. Amazon remains a key investment, even amid market downturns.
AMD Purchase
Ark Invest bought shares of AMD via ARKK, ARKQ, and ARKW, totaling $13.7 million. This comes as AMD shares rose despite a global market rout, influenced by issues with NVIDIA’s Blackwell accelerators.
Other Key Trades
* ARKF sold Block Inc shares
* ARKF bought Robinhood Markets Inc shares
* ARKG sold Teladoc Health Inc and Verve Therapeutics Inc shares
* ARKK sold Zoom Video Communications Inc and Block Inc shares
* ARKK bought Coinbase Global Inc shares
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