Strategic Technology Stock Trading from Ark Invest

Ark Invest's Recent Moves with Technology Stocks

Led by Cathie Wood, Ark Invest has made significant buying and selling transactions in the technology sector. On Thursday, Alibaba Group Holding (BABA), Baidu (BIDU), Advanced Micro Devices (AMD), and Tempus AI (TEM) stocks attracted attention. These moves highlight Ark's strategic stance and investment approach in the technology field.

Investment in Alibaba

Ark Invest purchased a total of 68,939 Alibaba shares through the Ark Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW). The shares closed at 171.90 dollars on the trading day, and the total cost of this purchase was approximately 11.85 million dollars. This investment was made in connection with the upcoming launch of Alibaba's innovative Quark application, which will include a new AI chatbot.

Investments in Baidu

Another noteworthy transaction for investors was the acquisition of Baidu shares. Ark executed a purchase of a total of 54,194 Baidu shares, closing at 120.48 dollars, amounting to approximately 6.5 million dollars through ARKK, the ARK Autonomous Technology & Robotics ETF (ARKQ), and ARKW funds. This move is related to Baidu's initiative to launch autonomous mobility services in Switzerland in line with its global autonomous driving goals.

Sales in AMD and Tempus AI

Ark Invest sold 9,910 AMD shares for 234.99 dollars through the ARKW fund, resulting in a transaction worth 2.3 million dollars. The sale occurred following fluctuations in the sector due to leaked information regarding Ryzen chips. Additionally, a total of 57,247 Tempus AI shares were sold through the ARKG and ARKK funds, with a transaction value estimated at approximately 4.98 million dollars.

It appears that Ark is making strategic moves with more technology stocks. For instance, 22,759 SoFi Technologies (SOFI) shares were sold via ARKF, 11,856 Roku (ROKU) shares were sold through ARKW, as well as 10,829 Shopify (SHOP) shares and 8,905 Roblox (RBLX) shares.