On Monday, Cathie Wood-led Ark Invest executed significant trades across its ETFs, focusing on companies like Figma Inc. (NYSE:FIG) , DoorDash Inc. (NASDAQ:DASH), and Advanced Micro Devices Inc. (NASDAQ:AMD). The Wood-led company also transacted in the shares of BWX Technologies Inc. (NYSE:BWXT), Alphabet Inc. (NASDAQ:GOOG) and Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM)
Ark Invest made a substantial purchase of Figma shares, acquiring 380,126 shares through its ARK Innovation ETF (BATS:ARKK) and an additional 97,319 shares via ARK Next Generation Internet ETF (BATS:ARKW). With FIG’s closing price at $24.75, the total investment amounted to approximately $11.8 million.
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This move follows Figma’s recent earnings report, where the company exceeded expectations with earnings of eight cents per share, surpassing the Street’s estimate of seven cents. Notably, Ark Invest bet $25.86 million on Figma shares last week.
Ark Invest also increased its stake in DoorDash, purchasing 24,308 shares through ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and 8,770 shares via ARK Space & Defense Innovation ETF (BATS:ARKX). With DASH closing at $164.66, the total value of these purchases was approximately $5.4 million. This acquisition comes after DoorDash reported earnings of 48 cents per share last week, missing the expected 60 cents, which led to a notable drop in its stock price.
Wood said on Monday that companies that harness artificial intelligence aggressively could lower costs, drop prices, and stimulate growth in revenues and earnings. She cited DoorDash as an example in her post on X. Wood called AI the “most disruptive innovation in history.”
According to @ARKInvest‘s research since 2014, AI is likely to be the most disruptive innovation in history. As @GrousARK writes here, companies harnessing AI aggressively–like $DASH–could lower their costs, drop prices, and stimulate surprising growth in revenues and earnings.
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Ark Invest bought 30,861 shares of AMD through ARKQ and 3,712 shares via ARKX. With AMD’s closing price at $196.60, the total investment was approximately $6.8 million. This purchase occurs amid a subtle shift in investor sentiment, as some are reducing exposure to semiconductor stocks despite AMD’s strong performance.
