ARK Invest Buys Nvidia and Broadcom, Sells Deere Stock
On Monday, ARK Invest, led by Cathie Wood, purchased shares of Nvidia and Broadcom as both chipmakers experienced a decline in stock price. The firm also sold approximately $36.8 million worth of Deere & Company stock, marking the largest individual transaction of the day. These moves were disclosed in ARK's daily fund reports. The decision to buy the dip in AI-related semiconductor stocks while reducing exposure to agricultural equipment maker Deere reflects ARK's ongoing investment strategy focused on disruptive innovation.
Key facts
- ARK Invest bought Nvidia and Broadcom shares on Monday.
- The purchases occurred as both chipmakers' stocks retreated.
- ARK offloaded approximately $36.8 million in Deere stock.
- The Deere sale was the day's biggest individual transaction.
- The information comes from ARK's daily fund disclosures.
- Cathie Wood is the CEO of ARK Invest.
- Nvidia and Broadcom are semiconductor companies.
- Deere is an agricultural equipment manufacturer.
Entities
Institutions
- ARK Invest
Sources
- Quartz —