On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its stake in several technology and mobility companies.
The Tesla Trade
Ark Invest’s flagship fund, ARK Innovation ETF (BATS:ARKK) along with ARK Next Generation Internet ETF (BATS:ARKW) purchased a total of 21,226 shares of Tesla Inc. (NASDAQ:TSLA), valued at approximately $8.1 million based on the closing price of $381.61.
This acquisition occurs as Tesla faces scrutiny over its Full Self-Driving technology following a crash in Texas. Elon Musk and Tesla’s AI chief have publicly refuted claims linking the crash to the FSD system, emphasizing the driver’s manual override during the incident.
The Cerebras Trade
Ark’s purchased 25,795 shares of Cerebras Systems Inc. (NASDAQ:CBRS) through ARKK and ARKW, totaling around $5.8 million at a closing price of $226.72.
This move follows Cerebras’ first earnings report, which saw the company outperform analyst expectations despite reporting a loss. Cerebras achieved a revenue of $193.41 million, surpassing the forecast of $181.59 million, indicating strong market performance and potential growth. Notably, the stock slipped in the after-hours session by over 11%.
The Palantir Trade
Ark acquired 81,254 shares of Palantir Inc. (NASDAQ:PLTR) through ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARKK and ARKW. The transaction was valued at $9.5 million at the closing price of $116.70.
Palantir recently announced its involvement in the U.S. Army’s Next Generation Command and Control program, a significant contract that positions its software at the core of critical military data architecture. The stock’s recent dip in the stock was attributed to technical and sentiment-driven factors rather than any fundamental issues.
The Amazon.com Trade
Ark Invest acquired shares of Amazon.com Inc. (NASDAQ:AMZN) across multiple ETFs, including ARKF, ARKK and ARKW. The total purchase amounted to 41,141 shares, valued at approximately $9.6 million, based on the last closing price of $234.11.
Amazon shares extended a decline that began in May as investors weighed concerns over consumer spending trends, a reported FTC probe into its advertising practices and the company’s heavy AI infrastructure spending.
The pullback came despite strong business performance, with AWS posting its fastest growth in nearly four years, as investors remained focused on regulatory uncertainty, Prime Day demand signals and the pace of returns from Amazon’s AI investments.
The Alphabet Class C Shares Trade
Ark Invest purchased 23,603 Class C shares of Alphabet Inc. (NASDAQ:GOOG) through ARKK and ARKW, totaling approximately $8.2 million at the closing price of $346.08.
Alphabet’s recent inclusion in the Dow Jones Industrial Average, replacing Verizon, highlights its expanding influence in sectors like AI and cloud infrastructure.
The Coreweave Trade
Ark Invest bought 76,195 shares of CoreWeave Inc. (NASDAQ:CRWV) through ARKK and ARKW, valued at around $8.1 million at the last closing price of $105.72.
CoreWeave’s recent performance, including its addition to the Nasdaq-100 and impressive MLPerf Training results, has drawn attention.
Other Key Trades
- Sold 327,053 shares of Roku Inc. (ROKU) through ARKK, ARKW and ARKF.
- Sold 130,391 shares of Strata Critical Medical Inc. (SRTA) in ARKQ and ARKX.
Benzinga Edge Stock Rankings indicate Tesla stock has a Momentum score in the 33rd percentile and a Value score in the 3rd percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: PJ McDonnell on Shutterstock.com
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