Cathie Wood's ARK buys AMD, RXRX stock and sells MKFG

Cathie Wood’s ARK ETF published their daily trades for Wednesday, October 9th, 2024, revealing a mix of strategic buys and sells across various sectors. The day’s most significant investment maneuver was the purchase of 425,213 shares of RECURSION PHARMACEUTICALS INC (NASDAQ:RXRX), valued at approximately $2,738,371. This move underscores ARK’s continued confidence in the biotech sector, particularly in companies leveraging AI and machine learning to revolutionize drug discovery.

Another notable buy was in INTELLIA THERAPEUTICS INC (NASDAQ:NTLA), a leader in gene editing technology, with ARK acquiring 62,426 shares for a total of $1,116,801. This investment aligns with ARK’s focus on disruptive innovation in the healthcare industry.

The technology sector also saw significant activity, with ARK buying 3,000 shares of ADVANCED MICRO DEVICES INC (NASDAQ:AMD (NASDAQ:)) across its ARKQ and ARKX ETFs, totaling $518,400. This purchase may signal ARK’s belief in the semiconductor industry’s growth prospects, especially given AMD’s competitive position in the market.

BLADE AIR MOBILITY INC (NASDAQ:BLDE), a company specializing in urban air mobility, continued to be on ARK’s radar, with a purchase of 61,895 shares valued at $214,775. This follows a pattern of consistent buying in previous days, indicating ARK’s bullish stance on the future of air transportation.

The largest sale of the day was of MARKFORGED HOLDING CORP (NYSE:MKFG), a 3D printing company, with ARK divesting 130,527 shares across its ARKQ and ARKX ETFs, resulting in a total sale value of $605,645. This move could suggest a strategic shift in ARK’s investment thesis regarding the additive manufacturing space.

Other sales included a modest number of shares in MATERIALISE NV (NASDAQ:MTLS) and ROCKET LAB USA INC (NASDAQ:RKLB), totaling $20,155 and $78,140, respectively. These sales represent minor adjustments to ARK’s portfolio, possibly for rebalancing purposes.

Investors also observed ARK’s continued interest in genomics, as evidenced by the purchase of 17,542 shares of 10X GENOMICS INC (NASDAQ:TXG), amounting to $352,769. The genomics sector remains a key area of focus for ARK, given its potential to revolutionize healthcare through precision medicine.

Overall, ARK’s trades for the day demonstrate a strategic balance between bolstering positions in companies with long-term growth potential and trimming holdings in others to optimize the portfolio’s performance. Investors and market watchers will undoubtedly keep a close eye on these moves as indicators of ARK’s broader investment strategy.

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