Cathie Wood Buys The Dip in AMD, Ark Loads Up On Coinbase — But Scales Back On Airbnb

On Tuesday, Cathie Wood-led Ark Invest executed significant trades involving Advanced Micro Devices Inc. (NASDAQ:AMD), Broadcom Inc. (NASDAQ:AVGO) , Coinbase Global Inc. (NASDAQ:COIN), and Airbnb Inc. (NASDAQ:ABNB).

The AMD Trade

The Broadcom Trade

ARKK and ARKQ funds purchased a total of 24,205 shares of Broadcom, valued at approximately $8 million, with the stock closing at $332.54.

Broadcom’s recent performance has been bolstered by Google parent Alphabet Inc.’s forecast of increased capital expenditures, which has positively impacted Broadcom’s stock.

The Coinbase Trade

Coinbase has been gaining market share and is viewed as a key player in the cryptocurrency economy. Analysts have noted the company’s diversification and strategic positioning in the crypto space.

The Airbnb Trade

Ark Invest reduced its holdings in Airbnb Inc. , selling a total of 15,711 shares through its ARKF and ARKK funds. With the stock closing at $124.23, this sale is valued at approximately $2 million.

Airbnb’s stock has been on the rise following positive earnings and analyst revisions, despite missing EPS expectations.

Other Key Trades:

Benzinga Edge Stock Rankings indicate AMD stock has a Momentum in the 89th percentile and Value in the 10th percentile.

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

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