Cathie Wood Dumps AMD for Two Consecutive Days... Adds More SpaceX (SPCX)

▲ SpaceX (SpaceX, SPCX), AMD, US Stock Market, US Stocks/AI Generated Image

Ark Invest, led by Cathie Wood, additionally purchased 44,196 shares of SpaceX (SpaceX, SPCX) and sold off 8,667 shares of AMD again. Following the purchase of 917,000 shares of SpaceX the previous day, the portfolio restructuring continued, increasing the proportion of space stocks and reducing the proportion of AMD.

According to Benzinga, a US economic media outlet, on July 7 (local time), Ark Invest purchased 44,196 shares of SpaceX through the ARK Innovation ETF (ARK Innovation ETF, ARKK). The transaction volume was approximately $6.6 million. Ark Invest had also purchased 917,000 shares of SpaceX the day before.

Under the listing agreement, approximately 912 million shares of SpaceX are expected to be released for sale starting August 5. This accounts for about 20% of eligible shares held by non-affiliates. If the stock price exceeds $175.5, which is 30% higher than the IPO price of $135, for 5 out of 10 trading days before the earnings announcement, an additional 456 million shares will be released on August 7.

Conversely, Ark Invest sold 8,667 shares of AMD from ARKK. The transaction volume was approximately $4.5 million. Ark Invest continued its selling streak for two consecutive days, having disposed of $8.6 million worth of AMD shares the day before.

AMD is scheduled to release its earnings on August 4. Wall Street expects earnings per share of $1.55 and revenue of $11.28 billion. Analysts' consensus investment opinion is 'buy,' and Goldman Sachs, Wells Fargo, and Cantor Fitzgerald recently raised their price targets.

Ark Invest also purchased 607,567 shares of X-Energy (X-Energy, XE) and 67,187 shares of Kratos Defense & Security Solutions (Kratos Defense & Security Solutions, KTOS). While adding 6,354 shares of Eli Lilly and Co. (LLY), it sold 44,330 shares of BioNTech SE (BNTX) and 228 shares of Alibaba Group Holding Ltd. (BABA).

[Article Summary]

-Ark Invest additionally purchased 44,196 shares of SpaceX for approximately $6.6 million, having also bought 917,000 shares the previous day.

-Ark Invest sold 8,667 shares of AMD for approximately $4.5 million, continuing its selling for two consecutive days after disposing of $8.6 million worth the day before.

-AMD is scheduled to release its earnings on August 4, with Wall Street expecting earnings per share of $1.55 and revenue of $11.28 billion.

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