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

Benzinga Neuro

June 25, 2024

On Tuesday, June 25, 2024, Cathie Wood-led Ark Invest made significant trades in NVIDIA Corp (NASDAQ:NVDA) and Roku Inc (NASDAQ:ROKU), amidst considerable market volatility. These trades were part of a series of transactions carried out by Ark’s various ETFs.

The NVIDIA Trade

The firm’s ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) 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 Corporation and 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 ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW) 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 Roku’s position in the market.

See Also: ‘Dogecoin Killer’ Shiba Inu Falters — Here Is What These Key Indicators Reveal About Its Short-Term Prosp

Other Key Trades:

Ark Invest’s ARKG fund sold a significant number of shares in Ginkgo Bioworks Holdings Inc (NASDAQ:DNA). ARKG also bought shares in Arcturus Therapeutics Holdings Inc (NASDAQ:ARCT) and 10X Genomics Inc (NASDAQ:TXG).
ARKK sold shares in Zoom Video Communications Inc (NASDAQ:ZM) and bought shares in PagerDuty Inc (NYSE:PD). ARKQ bought shares in Blade Air Mobility Inc (NASDAQ:BLDE) and Markforged Holding Corp (NASDAQ:MKFG).

Read Next: ‘Stock Market Has A Bad Breadth Problem Again,’ Veteran Wall Street Investor Warns

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

Recommended

Big Tech Is Spending Billions Each Month on This AI Superproject - Ad

Joe Biden Facing Political "Knockout" In Weeks? - Ad

Weekend Gains Await You With Tim Sykes! - Ad

Wall Street experienced a subdued trading day on Thursday, as traders likely chose to remain on the sidelines in anticipation of Friday’s release of the Federal Reserve’s preferred inflation gauge.

These Are The Top Democratic Contenders Who Could Succeed Biden If President Were To Bow Out Of

In the wake of a debate performance that drew widespread criticism, speculation has been reignited about whether President Joe Biden should bow out before the November election.

Nvidia Is Pivoting to Solve Big Tech's $1 Trillion Problem

Nvidia Is Pivoting to Solve Big Tech's $1 Trillion Problem - Ad

Nvidia is the hottest company in the world thanks to its chip business. But here's the thing: Nvidia is making a massive $1 trillion pivot ... To solve AI's biggest problem. But it's not making this move by itself. A new set of companies are partnering with Nvidia in this trillion-dollar venture.

Hawaii: Cannabis Decriminalization Bill Fails Amid Unified Legislative Opposition

The cannabis decriminalization bill, SB2487, faced rejection from both supporters and detractors in Hawaii's state legislature

Biden In Trouble: Trump Dominates Swing States, Ties In New Battleground State Won By Democrats In 12 Straight Presidential Elections

A new 2024 election poll makes a change to what the top seven swing states are. The move and poll results could have Joe Biden worried.

Amazon's Betting Big on This Unknown AI Company

Amazon's Betting Big on This Unknown AI Company - Ad

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden â€” Although There's One Silver Lining

According to a recent poll, a majority of voters have expressed their belief that President Joe Biden should be replaced as the Democratic candidate.

Bitcoin At 'Do-Or-Die' Level And Dogwifhat 'Just Looks Sh*t,' Says Top Trader: 'Can't Pin This On Me'

Bitcoin (CRYPTO: BTC) is currently at a critical juncture, according to a prominent crypto analyst.

Buy This Sub-$5 Play on His Final Masterpiece

Buy This Sub-$5 Play on His Final Masterpiece - Ad

I just issued my latest prediction on how this billionaire is about to shock the world with what I believe will be his final masterpiece. Once he flips the switch... Which could happen as early as mid-2024... I believe it could send this sub-$5 play skyrocketing in the coming months.

Top 2 Utilities Stocks That May Rocket Higher In June

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.

As Apple, Nvidia Trade Near All-Time Highs, Jim Cramer Tells Investors To Cash In On AI Stocks: 'Let's Not Be Too Greedy'

Jim Cramer, the host of CNBC's "Mad Money," has suggested that it might be time for investors to consider taking profits from their AI stock holdings.

AI Giant To Close the AI "Wealth Window' June 25?

AI Giant To Close the AI "Wealth Window' June 25? - Ad

On June 25, AI Giants will reveal "AI 2.0" to major tech executives, marking a pivotal moment in investing. This next-gen AI promises to transform lives and create a $15.7 trillion global market by 2030. This brief opportunity exists for early investors to capitalize on small breakthrough companies before this wealth window closes.

Boeing Faces Sanctions From NTSB Over Unauthorized Release Of 737 MAX Investigation Details

The NTSB's action further strains the relationship between Boeing and government agencies, amid the planemaker's efforts to avoid criminal charges from the U.S. Department of Justice (DOJ) before a July 7 deadline.

Four Cornell College Educators Stabbed In Northeast China, Say US Officials: Report

Four American educators from a small Iowa university were reportedly stabbed in a public park in northeast China's Jilin province over the weekend, according to U.S. media and U.S. government officials.

After Conviction, There Could Be More Bad News for Trump

After Conviction, There Could Be More Bad News for Trump - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just dropped this Trump election bombshell. For the sake of our country...I hope he's wrong. Because if he's right, you need to prepare now.

Is Altseason Around The Corner? Real Vision Analyst Reveals Key Indicators

Real Vision analyst Jamie Coutts on Thursday presented an optimistic outlook for high-quality altcoins, highlighting that the current setup appears increasingly favorable as global liquidity gears up for expansion.

Waffle House raises worker pay after strikes and pressure from labor organizers

Waffle House is increasing pay for its after a year-long push from .

Could This New Project Top $1T?

Could This New Project Top $1T? - Ad

This billionaire has predicted that his new venture - something I'm calling "X-9840" - could become "a trillion dollar company." Today, only three companies in the US are worth more than $2 trillion. Microsoft... Apple...and Nvidia. This has nothing to do with electric vehicles... Self-driving cars, rockets, brain chips, or satellites.

Joe Biden Shares His Performance Enhancer Drink Ahead Of 2024 US Presidential Debate: 'I Don't Know What They've Got In These'

Ahead of the debate, Biden took to X, sharing a humorous post about his "performance enhancer" drink, DARK BRANDON'S SECRET SAUCE, and joked, "I don't know what they've got in these performance enhancers, but I'm feeling pretty jacked up. Try it yourselves, folks.

Boeing Insists On Adherence To Legal Agreement Post-737 MAX Crashes: Report

Boeing reportedly maintains it adhered to a 2021 agreement aimed at avoiding prosecution after the 737 MAX incidents, countering U.S. claims of non-compliance. The company's commitment to transparent engagement highlights its efforts to navigate legal complexities ahead of the Justice Department's crucial July 7 decision on extending prosecution terms.

'Bombshell' Presentation Exposes Dark Side of Tech Billionaires

'Bombshell' Presentation Exposes Dark Side of Tech Billionaires - Ad

Blistering presentation exposes dark underbelly of Big Tech; their control over the economy and what you can do about it. If you watch just one presentation this year, make sure it's this one.

The US fines Middle Eastern airline Emirates $1.8 million for flights that passed too low over Iraq

WASHINGTON (AP) — The Transportation Department said Thursday that it fined Middle Eastern $1.8 million for flights in regions off-limits to U.S. airlines while it allowed JetBlue Airways to sell seats on the planes.

Biden Accuses Trump Of Having Sex With A Porn Star When Melania Was Pregnant During The Debate: 'You Have The Morals Of An Alley Cat'

President Joe Biden directly criticized former President Donald Trump's felony conviction in New York related to hush money charges.

AI Alert: Wealth Window Update

AI Alert: Wealth Window Update - Ad

I'm James Altucher, AI expert at Paradigm Press. On June 25, tech giants like Nvidia, Dell, and Alibaba could reveal "AI 2.0." This limited wealth-building window could turn $10k into $1 million with strategies I've perfected over 40 years. Act fast before everyone catches on!

Tractor Supply Company Shifts Focus, Retires DEI Goals Amid Backlash, Emphasizes Rural America Priorities

Tractor Supply Company shifts focus from DEI initiatives, emphasizes rural priorities amidst conservative backlash.

What's Going On With Ocean Power Technologies Stock After Hours?

Ocean Power Technologies said it signed an Original Equipment Manufacturer agreement with Teledyne Marine, a division of Teledyne Technologies in an effort to to enhance Ocean Power's product offerings and drive innovation within the industry.

Google CEO: This Is likely Bigger Than Electricity

Google CEO: This Is likely Bigger Than Electricity - Ad

Electricity reshaped the economy, creating the FAANG stocks and boosting GDP by over 4,900%. AI is going to do it again.

Trump Media & Technology, Palantir, Nike, Chewy, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Major U.S. stock indices closed positively on Thursday, with the Dow Jones Industrial Average rising 0.09% to finish at 39,164.06

This Biopharma Stock Is Trading 23% Higher In Pre-Market After Wrapping Up $4M Public Offering

The public offering included 1,199,448 shares of common stock and pre-funded warrants to purchase up to 2,568,110 shares of common stock.

Elon Musk's Chilling Warning for Humanity

Elon Musk's Chilling Warning for Humanity - Ad

Elon Musk warned that humanity will soon be 'obsolete.' Every port, railroad, highway, and airport in America is facilitating a kind of 'invasion' that will bring about centuries worth of change in the next few years. If Elon and the research are correct -- the results could be devastating for the average American.

Will Biden's Shaky Debate Performance Affect Cannabis Reform? How A Trump Return Could Reshape Marijuana Policy

President Joe Biden's shaky debate performance this week is stirring doubts among Democrats about his viability for reelection. As doubts about the president's electability circulate, questions

Shiba Inu, Ethereum, Chainlink Flash This 'Long-Term Bullish Signal' Despite Recent Drop

While the cryptocurrency market edged lower Thursday, several of the most popular coins showed a strong bullish indication. What Happened: Ethereum, Shiba Inu, and Chainlink endured significant losses during the day, as indicated below.

The END of Joe Biden

The END of Joe Biden - Ad

One of my political operatives just handed me this story: "Weeks from now, Joe Biden's political career will go down in flames..." I didn't believe it either. But then he sent me the details... Believe it or not, this new scandal is bigger than anything related to Trump, the economy, foreign affairs or even Biden's sagging poll numbers.

Amazon Boosts Indian Payments Business With $72M Investment To Take On Google Pay, Walmart-Backed PhonePe: Report

This story was first published on the Benzinga India portal.

Workers sue Disney claiming they were fraudulently induced to move to Florida from California

ORLANDO, Fla. (AP) — Disney workers are suing their employer, claiming they were fraudulently induced to to work in a new office campus only to have those plans later scrapped amid a fight between the entertainment giant and Florida Gov. Ron DeSantis.

"America's No. 1 Retirement Stock" (Name Inside)

"America's No. 1 Retirement Stock" (Name Inside) - Ad

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Thousands of drivers file arbitration claims against Amazon for unpaid wages and other losses

NEW YORK (AP) — Thousands of delivery drivers filed legal claims against on Tuesday, alleging the company’s classification of them as independent contractors instead of employees has led to unpaid wages and other financial losses.

Colorado's Youth Cannabis Use Hits Historic Lows, Survey Finds

Colorado's latest survey shows declining youth cannabis use alongside broader shifts in risky behaviors and mental health improvements.

The 7th Trillion Dollar Company?

The 7th Trillion Dollar Company? - Ad

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

Micro communities for the homeless sprout in US cities eager for small, quick and cheap solutions

ATLANTA (AP) — In a dreary part of downtown Atlanta, shipping containers have been transformed into an oasis for dozens of previously unsheltered people who now proudly call a former parking lot home.

Trending Now

Cathie Wood's Ark Invest Acquires $7.3M Worth Of Shares In This Promising Netflix Competitor, Sells Off Coinbase Stock Amid Bitcoin Slump

Trump Vs. Biden: 2024 Presidential Candidates Tied Ahead Of First Debate, Abortion Hits High For Being 'Very Important' To Voters

Scaramucci Says Democrats Have To 'Switch Up Their Strategy Immediately' After Biden's 'Brutal' Debate Performance: 'Trump Will Win On Nov. 5 Unless ...'