Cathie Wood Dumps $9.9M Tesla Despite Musk's '24/7' Pledge, Loads Up on Nvidia Before Earnings

On Tuesday, Cathie Wood-led Ark Invest executed notable trades involving NVIDIA Corp NVDA, Advanced Micro Devices Inc. AMD, and Tesla Inc. TSLA. These trades come amid significant market developments and strategic shifts, capturing the attention of investors and analysts alike.

The Tesla Trade

Ark Invest made a significant decision to sell shares of Tesla on Tuesday. The trade involved the sale of 27,377 shares through the ARK Innovation ETF ARKK. This move comes as Tesla’s stock experienced a 6.94% surge, reaching $362.89 for the day. Ark’s Tesla transaction was valued at $9.9 million.

On Tuesday, Elon Musk emphasized his renewed commitment to Tesla in a social media post, stating he is now “spending 24/7 at work,” which has sparked investor interest.

The Nvidia Trade

Ark Invest also made a strategic purchase of NVIDIA shares, acquiring 21,504 shares through the ARKK ETF and an additional 13,039 shares via the ARK Next Generation Internet ETF ARKW. This acquisition occurs as Nvidia prepares to release its first-quarter earnings, with expectations of an EPS of $0.88 and revenue of $43.54 billion. Nvidia’s stock has seen a 20.75% increase over the past month, driven by strong technical indicators and anticipation of its earnings report. The purchase by Ark Invest highlights confidence in Nvidia’s position as a leader in AI technology, despite geopolitical challenges.

On Tuesday, Nvidia stock rose 3.2% for the day at $135.50. The stock purchase by Wood was valued at $4.7 million.

The AMD Trade

Ark Invest’s interest in AMD was evident with the purchase of 50,837 shares through the ARKK ETF and 46,231 shares via the ARKW ETF. This move aligns with AMD’s growing presence in the AI sector, positioning itself as a formidable competitor to Nvidia. The recent delay in tariffs on European Union imports by President Donald Trump has provided a boost to AMD’s stock, contributing to a broader tech sector rally.

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For the day, AMD stock rose 3.85% to $114.56, making Ark’s purchase worth $11.1 million.

Other Key Trades:

Sold 1,104,945 shares of 3D Systems Corp through the ARKQ ETF and 257,346 shares through ARKX..
Bought 230,450 shares of CRISPR Therapeutics AG via the ARKK ETF and 32,009 through ARKG.
Sold 95,589 shares of Roblox Corp through the ARKK ETF.

Benzinga Edge Stock Rankings indicate AMD has a Momentum in the 20th percentile and Growth in the 97th percentile. Here is how you can find out how Nvidia compares.