The NVIDIA Shift
Cathie Wood-led Ark Invest recently shed almost $4 million worth of Nvidia Corp (NVDA) shares despite the stock’s impressive leap post-earnings. The move was particularly noteworthy given Nvidia’s soaring performance and the bullish outlook shared by various analysts. Notably, Nvidia has seen a stellar rise of 58.6% this year, with an extraordinary 231.9% surge over the last 12 months.
Ripples of Change
The decision to sell Nvidia shares has caused quite a stir, especially following the company’s outstanding financial results and optimistic future prospects outlined by industry experts. In the fourth quarter, Nvidia surpassed revenue projections and provided robust guidance for the months ahead, underlining its steady expansion in the AI sector. Seven analysts further reiterated this positive trajectory, emphasizing Nvidia’s enduring momentum in AI technologies.
Exploring New Horizons
Apart from trimming its Nvidia position, Ark Invest also made significant adjustments in other flagship trades within its portfolio. Noteworthy actions include:
- Roku Inc (ROKU): Ark bolstered its stake in ROKU by acquiring 239,868 shares for multiple ETFs.
- Coinbase Global Inc (COIN): In a strategic move, Ark trimmed its holdings by selling 2,828 shares, reflecting caution in the volatile cryptocurrency market landscape.
- Robinhood Markets Inc (HOOD): Ark divested 37,312 shares, signaling a reevaluation of its investment in the fintech space due to evolving market conditions or company-specific factors.
- Teladoc Inc (TDOC): Ark significantly reduced its exposure by selling shares from multiple ETFs.
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