On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Tesla Inc. (NASDAQ:TSLA), Advanced Micro Devices Inc. (NASDAQ:AMD), CoreWeave Inc. (NASDAQ:CRWV), and Pinterest Inc. (NYSE:PINS). These trades come amid fluctuating market conditions and notable developments surrounding each company.
The Tesla Trade
Ark Invest’s ARK Space & Defense Innovation ETF (BATS:ARKX) acquired 35,766 shares of the Elon Musk-led company valued at approximately $14.5 million based on the closing price of $406.01.
Tesla’s stock has been under pressure due to declining demand in Europe, with sales in France dropping 42% last month, as reported by the French Automotive Industry and Mobilities Platform. This marks the lowest sales in over three years, raising concerns about the company’s market position in the region.
The AMD Trade
Despite AMD’s recent earnings surpassing Wall Street expectations by $600 million, the stock experienced a significant selloff, losing over $30 billion in market value. This reaction was attributed to market recognition rather than panic.
The CoreWeave TradeThe Pinterest TradeOther Key Trades:
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