Cathie Wood Sells $74 Million in AMD Shares After 72% Surge
Cathie Wood sells $74-million shares of this semiconductor company after stock skyrockets 72% in one month
The Economic Times
Image: The Economic Times
Cathie Wood, a prominent US investment strategist, sold over $74 million in shares of Advanced Micro Devices (AMD) after the stock surged 72% in one month. Concurrently, she purchased $73 million in Amazon shares, with AMD remaining a significant holding in her ARK ETFs, totaling over $807 million.
- 01Cathie Wood sold $74 million in AMD shares after a 72% price increase in one month.
- 02AMD remains the second-largest holding in Wood's ARK ETFs, valued at over $807 million.
- 03Amazon shares were purchased for over $73 million, reflecting a 32% increase in one month.
- 04Wood's ARK Innovation ETF experienced $1.34 billion in net outflows recently.
- 05Despite market fluctuations, Wood remains optimistic about the AI sector's growth potential.
Advertisement
In-Article Ad
Cathie Wood, the founder of ARK Invest, sold shares of Advanced Micro Devices (AMD) worth over $74 million on Friday, following a remarkable 72% surge in the stock price over the past month. This sale reduced her total holdings in AMD to over $807 million, making it the second-largest position in her ARK ETFs. In parallel, Wood acquired $73 million worth of Amazon shares, which have also seen a significant increase, gaining 32% in the last month. Despite recent challenges, including $1.34 billion in net outflows from her flagship Ark Innovation ETF (ARKK), which gained 35.49% last year, Wood continues to advocate for the long-term potential of AI and related technologies. She has expressed confidence that any potential AI bubble is still years away, indicating a strong belief in the sustainability of capital investments in this sector.
Advertisement
In-Article Ad
Advertisement
In-Article Ad
Reader Poll
Do you think Cathie Wood's investment strategy is effective?
Connecting to poll...
Read the original article
Visit the source for the complete story.