Cathie Wood's ARK buys AMD, TXG stock and sells MRNA

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Cathie Wood's ARK ETF published their daily trades for Thursday, October 10th, 2024, with a notable focus on the biotech and semiconductor sectors. Leading the day's activity was a significant purchase of 10X Genomics Inc (NASDAQ:TXG) shares, where ARK acquired a total of 1,148,427 shares across its ARKK and ARKG ETFs, amounting to a substantial $23,898,765 investment. This move underscores ARK's growing interest in the genomics space, as the firm has been consistently increasing its holdings in TXG over recent days, signaling a strong conviction in the company's long-term growth potential.

On the sell side, ARK divested a large portion of its stake in Moderna Inc (NASDAQ:MRNA), selling 160,994 shares across ARKK and ARKG ETFs for a total of $9,476,106. This trade marks a significant shift in ARK's position on the biotech company, which has seen its stock price fluctuate with the evolving dynamics of the pandemic and vaccine rollout.

In the semiconductor space, ARK continued to build its position in Advanced Micro Devices Inc (NASDAQ:AMD), purchasing 3,589 shares through its ARKQ ETF, with a total value of $613,790. This follows a pattern of consistent buying in AMD, indicating ARK's bullish stance on the semiconductor industry and AMD's role within it.

Other trades included buying shares of Blade Air Mobility Inc (NASDAQ:BLDE) and Crispr Therapeutics AG (NASDAQ:CRSP), with total investments of $91,132 and $308,129, respectively. These purchases reflect ARK's ongoing strategy to invest in disruptive technologies and innovative healthcare solutions.

On the smaller end of the scale, ARK sold shares of Markforged Holding Corp (NYSE:MKFG) and Materialise NV (NASDAQ:MTLS), with total values of $20,262 and $19,021, respectively. Although these trades are less significant in dollar value, they align with ARK's active management approach, continually adjusting its holdings to optimize for growth and innovation.

The day's transactions showcase ARK's dynamic investment strategy, with a clear emphasis on companies poised to benefit from technological advancements and a forward-looking approach to the evolving market landscape. Investors following ARK's trades can discern a pattern of increased investment in certain sectors, which may offer insights into where the firm sees the most promising opportunities for future growth.

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