Cathie Wood-Led Ark Invest's Latest Portfolio Maneuver: Dumps Tesla And Palantir Shares, Buys Amazon And

On Monday, Cathie Wood’s Ark Invest made significant trades involving Tesla Inc. (NASDAQ:TSLA), Amazon.com Inc. (NASDAQ:AMZN), Palantir Technologies Inc. (NYSE:PLTR) and Advanced Micro Devices, Inc. (NASDAQ:AMD). These trades were part of a series of strategic moves made by the investment firm.

The Tesla Trade

Ark Invest sold 20,552 Tesla shares across two of its ETFs. The ARK Innovation ETF (NYSE:ARKK) fund sold 13,136 shares, while the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) fund sold 7,416 shares. The total value of the sold shares, based on the closing price of $338.59, amounts to approximately $7 million. This move comes amidst news that Tesla vehicles may not be eligible for rebates under a new California consumer rebates proposal, causing Tesla shares to close lower on Monday.

The Amazon Trade

Ark Invest’s ARKQ fund bought 19,747 shares of Amazon. The value of this trade, calculated from the closing price of $201.45, is approximately $4 million. This purchase follows Amazon’s recent investment of $8 billion in artificial intelligence research and development company, Anthropic. Amazon’s partnership with Anthropic is expected to be mutually beneficial, with Anthropic naming Amazon Web Services as its primary training partner and cloud provider.

The Palantir Trade

On Monday, Ark sold 26,047 shares of Palantir worth $1.7 million through its ARKK ETF.

Ark Invest’s move to trade in PLTR follows a significant endorsement of the artificial intelligence software sector by Wedbush Securities. The firm’s Managing Director, Dan Ives, has predicted that 2025 will be a pivotal year for AI implementation across the industry. This comes as Palantir continues its impressive ascent, having surged 288% year-to-date.

In a sector-wide upgrade, Ives raised Palantir's price target to $75, signaling broader confidence in the software sector's AI potential. The last close price for PLTR was $64.65, marking a 0.47% increase.

The AMD Trade

The Wood-led firm purchased 10,753 shares of AMD worth $1.5 million on Monday. The last close price for AMD was $141.13, marking a 2.01% increase.

Ark Invest’s trade in AMD comes as the company reportedly plans to enter the mobile device market with new accelerated processing unit (APU) chips designed for smartphones. These chips will leverage Taiwan Semiconductor Manufacturing Co's 3nm process, extending Taiwan Semiconductor's order visibility for 3nm production into late 2026.

AMD is also boosting its presence in India, with a $400 million investment aimed at enhancing its R&D capabilities and tapping into the burgeoning market.

Other Key Trades:

Ark Invest’s ARKF fund sold shares of SoFi Technologies Inc and bought shares of Ibotta Inc.
The ARKG fund sold shares of Butterfly Network Inc and bought shares of Recursion Pharmaceuticals Inc.
The ARKW fund bought shares of 3iQ Ether Staking ETF and sold shares of Genius Sports Ltd.