Cathie Wood’s ARK Acquires AMD and RXRX Stocks, Sells MKFG

Cathie Wood’s ARK ETF released its daily trades for Wednesday, October 9th, 2024, showcasing a blend of strategic purchases and sales across diverse sectors. The most significant investment of the day involved the acquisition of 425,213 shares of Recursion Pharmaceuticals Inc, amounting to approximately $2,738,371. This move highlights ARK’s ongoing confidence in the biotech industry, particularly in firms utilizing AI and machine learning to transform drug discovery.

Another noteworthy investment was in Intellia Therapeutics Inc, a frontrunner in gene editing technology, where ARK purchased 62,426 shares for a total of $1,116,801. This aligns with ARK’s emphasis on disruptive innovation within the healthcare sector.

The technology sector also witnessed considerable action, with ARK acquiring 3,000 shares of Advanced Micro Devices Inc across its ARKQ and ARKX ETFs, totaling $518,400. This acquisition may indicate ARK’s optimism about the growth potential of the semiconductor industry, especially in light of AMD’s strong market position.

Blade Air Mobility Inc, a company focused on urban air mobility, remained on ARK’s radar, with a purchase of 61,895 shares valued at $214,775. This follows a trend of consistent buying in previous sessions, reflecting ARK’s bullish outlook on the future of air transportation.

The largest sale of the day was of Markforged Holding Corp, a 3D printing company, where ARK divested 130,527 shares across its ARKQ and ARKX ETFs, totaling $605,645. This divestment may indicate a strategic shift in ARK’s investment strategy concerning the additive manufacturing sector.

Additional sales included smaller quantities of shares in Materialise NV and Rocket Lab USA Inc, totaling $20,155 and $78,140, respectively. These adjustments represent minor tweaks to ARK’s portfolio, potentially for rebalancing purposes.

ARK also demonstrated ongoing interest in genomics with the acquisition of 17,542 shares of 10X Genomics Inc, totaling $352,769. The genomics sector continues to be a focal point for ARK, given its transformative potential in healthcare through precision medicine.

In summary, ARK’s trading activities for the day illustrate a strategic approach to enhancing stakes in companies with significant long-term growth potential while trimming holdings in others to optimize portfolio performance. Investors and market observers will likely monitor these movements as indicators of ARK’s overarching investment strategy.