Cathie Wood-Led Ark Invest Dumps $4.3M Worth Of Nvidia Shares Amid Rebound — Swoops Into Buy Stock Of Thi

　　On Tuesday, June 25, 2024, Cathie Wood-led Ark Investmade significant trades in NVIDIA CorpNVDA and Roku IncROKU, amidst considerable market volatility. These trades were part of a series of transactions carried out by Arks various ETFs.

　　The NVIDIA Trade

　　The firms ARK Autonomous Technology & Robotics ETFARKQ sold 33,834 NVIDIA shares on Tuesday. The transaction was valued at $4.3 million. On the day, Nvidia shares closed 6.8% higher at $126.09.

　　This move comes in the wake of a significant market cap loss for the tech giant, which saw a $550 billion drop since Thursday. Despite this, NVIDIA managed to rebound by over 6% on Tuesday, regaining its position as the third most valuable corporation, behind Microsoft Corporationand Apple Inc.

　　Concerns about NVIDIA‘s influence on the S&P 500 Index have been raised, with some analysts warning of a potential broader market slump if the company experiences a significant sell-off. Despite these concerns, NVIDIA’s fundamentals remain strong, with first-quarter 2024 earnings exceeding Wall Street's expectations, driven by strong performance in its data center and automotive segments.

　　The Roku Trade

　　ARK Innovation ETFARKK and ARK Next Generation Internet ETFARKW funds bought 96,465 Roku shares on Tuesday in a transaction valued at $5.3 million. Roku shares closed 0.35% higher at $54.64 in the regular session on Tuesday.

　　This move comes amidst a turbulent market for Roku, with its stock caught in a fierce bull-bear debate recently. Despite competitive threats, bullish investors are enthusiastic about Roku's revenue potential from several fronts.

　　The Netflix-rival recently unveiled Roku Exchange, an advertising technology solution designed to bridge ad inventory with advertiser demand directly. This platform represents a significant advancement in streaming-first advertising technology, further solidifying Rokus position in the market.

　　Other Key Trades:

• Ark Invests ARKG fund sold a significant number of shares in Ginkgo Bioworks Holdings IncDNA. ARKG also bought shares in Arcturus Therapeutics Holdings IncARCT and 10X Genomics IncTXG.
• ARKK sold shares in Zoom Video Communications IncZM and bought shares in PagerDuty IncPD. ARKQ bought shares in Blade Air Mobility IncBLDE and Markforged Holding CorpMKFG.

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

　　© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.