Cathie Wood's ARK Invest picked up 243,707 Nvidia shares on Friday at a total cost of approximately $53 million, according to Barron's. The buy came after Nvidia stock closed down 4.6% at $217.55 that day, pulling back from a surge driven by the chipmaker's latest earnings report.
The purchase fits a pattern that has emerged over recent months, with Wood adding to ARK's Nvidia holdings at the same time she has been paring back its AMD exposure. ARK sold 156,286 AMD shares on Friday as well.
Nvidia stock was up 0.5% at $218.70 in premarket trading Monday.
Nvidia's second-quarter revenue more than doubled, clearing ****** yst forecasts by the widest margin in two years, and the company projected 70% revenue growth for its fiscal 2028 year. Nvidia stock climbed roughly 7% on Thursday following the report, lifting chip stocks broadly and pushing major indexes higher. The stock's subsequent pullback on Friday set up the entry point for ARK's purchase.
CEO Jensen Huang said demand for the company's products exceeds its ability to supply them.
#Friday #shares #back #cathie
The purchase fits a pattern that has emerged over recent months, with Wood adding to ARK's Nvidia holdings at the same time she has been paring back its AMD exposure. ARK sold 156,286 AMD shares on Friday as well.
Nvidia stock was up 0.5% at $218.70 in premarket trading Monday.
Nvidia's second-quarter revenue more than doubled, clearing ****** yst forecasts by the widest margin in two years, and the company projected 70% revenue growth for its fiscal 2028 year. Nvidia stock climbed roughly 7% on Thursday following the report, lifting chip stocks broadly and pushing major indexes higher. The stock's subsequent pullback on Friday set up the entry point for ARK's purchase.
CEO Jensen Huang said demand for the company's products exceeds its ability to supply them.
#Friday #shares #back #cathie
2 months ago
