On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Advanced Micro Devices Inc (NASDAQ:AMD), Palantir Technologies Inc (NYSE:PLTR) and Moderna Inc (NASDAQ:MRNA). These trades reflect Ark’s strategic adjustments amidst market movements.

The AMD Trade

Ark bought 7,861 shares of AMD for ARK Next Generation Internet ETF (NYSE:ARKW). The transaction was valued at $1.35 million. On Tuesday, the chipmaker’s stock closed 3.2% higher at $171.61.

AMD claimed a 33% share in the server CPU market as it readies its next-gen processors and unveils a GPU roadmap. CFO Jean Hu highlighted strong growth in servers, CPUs, and GPUs, citing partnerships and transitions to AMD-based infrastructure. Analysts anticipate semiconductor industry optimism despite challenges.

The Palantir Trade

Ark Invest’s ARK Space Exploration & Innovation ETF (BATS:ARKX) fund acquired 9,773 shares of Palantir Technologies Inc (NYSE:PLTR) worth $205,721. This move to buy the shares through ARKX comes after Palantir’s recent stock performance, which has been under scrutiny. According to a Benzinga report, Palantir has been experiencing fluctuations due to market conditions and investor sentiment. On Tuesday, Palantir shares closed 0.2% higher at $21.05.

The MRNA Trade

On the same day, Ark Invest’s ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (NYSE:ARKK) funds sold a combined total of 28,670 shares of Moderna. The shares were sold at a closing price of $153.20, amounting to a total value of approximately $4.4 million. The decision to sell comes after Moderna’s stock saw a decline of 8.05% on Tuesday.

This sell-off follows Moderna’s recent performance, which was highlighted as one of the best-performing large-cap stocks last week as experts predicted a rise in COVID-19 infections in the summer, according to another Benzinga report.

Other Key Trades:

• Sold shares of Unity Software Inc (NYSE:U) from ARKK
• Bought shares of UiPath Inc (NYSE:PATH) for ARKK and sold stock of Nu Holdings Ltd (NYSE:NU) from ARKW
• Bought shares of Roblox Corp (NYSE:RBLX) for ARKK

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