
On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Tempus AI Inc. (NASDAQ:TEM), Advanced Micro Devices Inc. (NASDAQ:AMD), and Meta Platforms Inc. (NASDAQ:META).
The Tempus AI Trade saw Ark Invest’s ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (NYSE:ARKK) funds acquiring a substantial number of shares in Tempus AI. The funds purchased 28,646 and 142,530 shares respectively. This move comes after Tempus AI’s recent earnings report, which showed a revenue miss but an EPS beat, as detailed in a recent analysis. The stock closed at $45.74, marking an 8.28% decline, making the total value of the shares bought approximately $7.83 million. Ark’s investment follows a previous infusion of $1.36 million into Tempus AI, highlighting their confidence in the company’s potential.
The AMD Trade involved the ARKK fund purchasing 30,324 shares of the company. The stock closed at $103.51, resulting in a trade value of about $3.14 million. This acquisition aligns with recent insights from analysts who have noted AMD’s growing competitiveness in the AI and GPU markets. The company is expected to experience over 20% growth in 2025, driven by AI advancements and strategic partnerships.
The Meta Platforms Trade saw Ark Invest’s ARKK fund selling 2,160 shares of the Mark Zuckerberg-led company. The stock closed at $582.36, making the sale worth approximately $1.26 million. This decision comes amid analyst predictions that Meta could generate $30-40 billion in revenue from its business messaging services, suggesting potential undervaluation by the market.
Notably, Ark dumped over $7 million worth of Meta shares on Monday amid reports that the company’s global expansion efforts and privacy practices are attracting increased scrutiny.
Other Key Trades:
- UiPath Inc (PATH): Sold 482,454 shares by ARKK and 27,345 shares by ARKF.
- Illumina Inc (ILMN): Sold 86,375 shares by ARKK and 17,469 shares by ARKG.
- GitLab Inc (NASDAQ:GTLB): Bought 104,699 shares by ARKK and 8,748 shares by ARKW.
- Iridium Communications Inc (NASDAQ:IRDM): Bought 99,784 shares by ARKK, 10,022 shares by ARKQ, and 6,585 shares by ARKX.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal