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

Biden v. Who in 2024???? - Ad

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

The Mysterious Tale of "America's No. 1 Retirement Stock" - Ad

Former President Donald Trump has made a decision on his vice presidential nominee for the forthcoming election.

8 Large Cap Stocks That Outperformed Nvidia Over The Past Year

Nvidia surged 217.58% over the past year, 173.78% year-to-date. Here are eight large-cap stocks that outperformed it this past year.

Get This Bitcoin ETF Before July 29 (18%+ Dividend Yield Up for Grabs)

Get This Bitcoin ETF Before July 29 (18%+ Dividend Yield Up for Grabs) - Ad

A massive Bitcoin dividend was just announced... And if you act today, you'll receive $2.05 per SHARE. That's 161% BIGGER than the highest-yielding dividend aristocrats... But you have to get in before the July 29 cutoff date.

Top 3 Materials Stocks That May Explode In Q2

Here's the latest list of major oversold players in this sector, having an RSI near or below 30.

Elon Musk's Parents Weren't Interested In Moving To The US, But He Got The Paperwork Done For Everyone Except His Father: 'You'll Never Be Successful'

Elon Musk's journey to the U.S. began without his father Errol Musk's support, highlighting a strained relationship and significant family tensions.

This Billionaire's Final Masterpiece: "X-9840"

This Billionaire's Final Masterpiece: "X-9840" - Ad

The investment legend who predicted the rise of Bitcoin, Facebook and streaming services like Netflix... Just released the details on what he's calling Project X-9840. This business mogul is now set to revolutionize MONEY. He has said he could flip the switch "as early as mid 2024."

Tesla Model 3 Long Range Now Qualifies For Full $7,500 Tax Credit

Tesla Inc (NASDAQ: TSLA) announced the new Model 3 Long Range (LR) now qualifies for the full $7,500 federal tax credit in the

Trump Is Raising Enough Money To Wipe Out Biden's Once Significant Cash Advantage

The campaign of former President Donald Trump has seen a significant increase in donations, surpassing that of President Joe Biden, following Trump's felony conviction.

5 Wall Street Legends Just Bought This One Stock

5 Wall Street Legends Just Bought This One Stock - Ad

"If you're not at the table, you're on the menu," says former Goldman Sachs VP, Dr. David Eifrig.

Asia Mixed While European Markets Dip, Crude Slips To $77 On Reduced Demand Forecast - Global Markets Today While US Slept

Asian markets showed mixed results on Thursday, with commodities like Crude Oil WTI, Gold, Silver, and Copper trading lower amid economic concerns.

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

Man Who Called Tesla at $37 Makes Next "Crazy" Call

Man Who Called Tesla at $37 Makes Next "Crazy" Call - Ad

The man who called Tesla when it was trading for $37 per share just made his next big call: "This might sound weird, but a tiny golf ball just like this......Holds the key to solving our energy crisis, and I believe it's the #1 investment opportunity of the decade."

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.

Sprint great Michael Johnson launching 'Grand Slam Track' league with $100K first prizes

Sprinting great Michael Johnson is launching a track league that looks to assemble nearly 100 of the sport's top performers four times a year to compete for $12.6 million in prize money over its first season.

Discover "U.S.'s New Money" Before Biden Wins

Discover "U.S.'s New Money" Before Biden Wins - Ad

A new form of money has emerged in America, and it's making some folks wildly rich... (Musk and Bezos both use it). Find out how you can too in this free video.

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.

Microsoft, Amazon Or Palantir: Reddit Users Debate How To Invest $4,900

Reddit users debate best stock picks for $4.9K investment. Microsoft and Amazon seen as strong choices, while Palantir's potential sparks debate.

Nvidia Is Now Part of $3 Trillion Market Cap Club

Nvidia Is Now Part of $3 Trillion Market Cap Club - Ad

Nvidia has become the third company ever to have a market cap greater than $3 trillion. And now, Nvidia is pivoting to the next AI frontier it plans to conquer. This recent move is valued at $1 trillion... at least. A small handful of Nvidia's other partners could see their own stocks benefit from it.

Michael Dell Says Generative AI Tech Wave Sweeping In Much Faster Than Early Internet: 'It's Happening Maybe 10 Times Faster'

Michael Dell, CEO of Dell Inc., compared the rise of generative AI to major technological advancements like the internet, noting its rapid adoption and significant impact on the global market.

Stocks Show Modest Gains Ahead Of Fed's Inflation Report; Chipmakers Struggle, While Gold And Bitcoin Rebound: What's Driving Markets Thursday?

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.

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.

Apple And Broadcom Were Among 10 Large Cap Stocks With Biggest Gains In The Last Week (June 9-June 15, 2024): Are They In Your Portfolio?

Top performing large-cap stocks in the last week: AVGO, ARM, CASY, QRVO, SWKS, Z, ANET, RTO, ORCL, AAPL. Analysts raised price forecasts.

Before his summit with North Korea's Kim, Putin vows they'll beat sanctions together

SEOUL, South Korea (AP) — Russian President Vladimir Putin thanked North Korea for supporting his actions in Ukraine and said their countries will cooperate closely to overcome U.S.-led sanctions as he headed to Pyongyang on Tuesday for a summit with North Korean leader Kim Jong Un.

One Billionaire's Genius Plan to Save the US Dollar From Collapse?

One Billionaire's Genius Plan to Save the US Dollar From Collapse? - Ad

If you're holding any US dollars, you need to see what this tech titan is up to now... This could be the biggest change to our financial system since the creation of the Federal Reserve in 1913. Hurry... He has said he could flip the switch "as early as mid 2024."

Bitcoin Plunges Below $60K, Ethereum, Dogecoin Follow Down, But...'July Is Historically Bullish,' Says Trader

Cryptocurrency markets are down heavily in Monday trading, as Bitcoin plunged below $60,000 for the first time in weeks.

Wall Street's Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 6% Dividend Yields

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks.

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.

Supreme Court rules California man can't trademark 'Trump too small'

WASHINGTON (AP) — The on Thursday ruled against a man who wants to “Trump too small.”

Australian PM Slams Meta As Arrogant And Irresponsible, Urges Payment To News Outlets: 'They Should Fulfill The Commitments That They Had Previously Given'

Australian Prime Minister Anthony Albanese criticized Meta Platforms Inc. for its arrogant behavior and urged the company to continue paying local media organizations for their content, emphasizing its social responsibility.

Something BIG's About to Happen in America

Something BIG's About to Happen in America - Ad

The REAL truth behind what's happening in America right now is even worse than you thought. In fact, new evidence points to a secret Election Day shakeup, involving a sleeper candidate for President nobody is talking about... a controversial Chinese-owned app... and the most famous celebrity in the world today.

New York Times Calls For Joe Biden To Withdraw From Presidential Race

New York Times urges Biden to withdraw from presidential race, citing debate performance and voter desire for fresh leadership.

Ford's F-150 Lightning-Based Supertruck To Climb Pikes Peak Over Weekend, Keeping Up With Model T Legacy

Ford's electric F-150 Lightning supertruck will compete at Pikes Peak on June 23, testing EV powertrains for future production vehicles.

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.

Biden's Former Rivals Share Secret To Beating Him Ahead Of Key Debate With Trump: 'If I Were Debating Him Today ...'

In the run-up to the first presidential debate between President Joe Biden and former President Donald Trump scheduled for June 27, former opponents of Biden suggest that Trump could exploit Biden's perceived vulnerabilities.

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.

This Is Where the World's Richest Men Are Putting Their Money

This Is Where the World's Richest Men Are Putting Their Money - Ad

Bill Gates, Peter Thiel, Mark Zuckerberg -- they're pouring millions into something we call Imperium technology. And you can invest in this tech alongside them starting with just $10. Bill Gates called Imperium "one of the most powerful technologies of the 21st century."

Capcom's Street Fighter Film Locked For 2026 Despite Director Shift

Sony Pictures announces the release date for the new Street Fighter movie. Get the updates on Capcom's video game adaptation

Puerto Rico restores power after a massive blackout as lawmakers call for a state of emergency

BAYAMÓN, Puerto Rico (AP) — A power company in Puerto Rico announced Thursday that it has restored electricity to most areas affected by a .

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.

CannPowerment, The Startup Behind ButACake, Takes Home Top Prize At Benzinga's Cannabis Market Spotlight

CannPowerment will move on to the Rooted In Good Cannabis Demo Day at Boston Cannabis Week on Sept. 19 and compete for a $25,000 prize.

Trending Now

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

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

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

Biden Vs. Trump Matchup In Key Swing State Of Arizona Shows One Candidate Pulls Ahead With Appreciable Lead, But This Demographic Could Tip The Scale For Either Candidate