ARK invest buys $AMD (-0.05%) and sells $TSLA (+0.16%) and $PLTR (+0.16%)

On Wednesday, 10/30/2024, Cathie Woods ARK ETFs made significant shifts in the financial markets.

The most notable trade of the day involved Advanced Micro Devices Inc $AMD (-0.05%)

ARK purchased a total of 111,080 shares of AMD through its ARKK, ARKQ, ARKW, and ARKX ETFs, representing an investment of $18,467,050. This purchase continues a recent trend of ARK steadily increasing its position in AMD.

Also of note was the purchase of Archer Aviation Inc (NYSE:ACHR) shares. ARK's ARKK ETF acquired 689,365 shares worth $2,316,266. This joins a consistent pattern of ARK increasing its stake in the urban air mobility company in recent days.

On the sell side, ARK divested a sizable stake in Tesla Inc.

Through the ARKK and ARKW ETFs, 62,151 shares were sold for a total value of $16,129,426. This move is part of an overarching strategy in which ARK has been steadily reducing its exposure to the electric vehicle pioneer since the previous week.

Palantir was also affected by a significant sale.

ARK sold 372,730 shares across multiple ETFs for proceeds of $16,746,759. This continues a selling trend that was already observed at the beginning of the week and indicates a strategic realignment with regard to the data analysis company.