On Monday, January 6, 2025, Cathie Wood-led Ark Invest made significant trades, notably increasing its stake in Amazon.com Inc (NASDAQ: AMZN) across multiple funds.
The Amazon Trade: Ark Invest’s funds, ARKF and ARKW, collectively acquired 39,288 shares of Amazon.com Inc (NASDAQ: AMZN) on Monday. With Amazon’s shares closing at $227.61, the total value of this purchase amounts to approximately $8.9 million.
Ark’s focus on Amazon comes shortly after a series of strategic moves, including a substantial sell-off of Tesla shares at the end of 2024. This shift emphasizes Ark’s adaptive investment approach, capitalizing on emerging opportunities within the tech sector.
The GitLab Trade: On the same day, Ark Invest increased its holdings in GitLab Inc (NASDAQ: GTLB) through its ARKK and ARKW funds. A total of 290,710 shares were purchased, valued at approximately $17.9 million, given GitLab’s closing price of $61.56.
This acquisition seems to be part of Ark’s ongoing strategy to enhance its portfolio with companies that have strong growth potential in the tech industry, in particular related to devOps.
Other Key Trades:
- Palantir Technologies Inc (NYSE: PLTR): Ark sold a total of 196,728 shares valued at approximately $14.9 million, reflecting a continued reduction in its position.
- Illumina Inc (NASDAQ: ILMN): Purchased 142,118 shares across ARKG and ARKK, totaling around $19.7 million, indicating a renewed focus on the biotech sector.
- Archer Aviation Inc (NYSE: ACHR): Sold 1,222,321 shares valued at approximately $14 million, signaling a strategic shift away from aviation investments.
- Coinbase Global Inc (NASDAQ: COIN): Reduced its position by 3,769 shares, amounting to around $1.1 million, amidst a 6.32% increase in share price.
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