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Cathie Dumps AMD And Reddit Shares Amid Tech Bloodbath, Ark Doubles Down On Tom Lee And Peter Thiel Crypto Plays - Advanced Micro Devices (NASDAQ:AMD)
Benzingaยท 2025-11-14 02:26
Core Insights - Ark Invest, led by Cathie Wood, executed significant trades focusing on tech and crypto sectors, including Circle Internet Group, Bitmine Immersion Technologies, Bullish, Advanced Micro Devices, and Reddit [1] Circle Trade - Ark Invest purchased 188,941 shares of Circle across multiple ETFs, including ARK Fintech Innovation ETF, ARK Innovation ETF, and ARK Next Generation Internet ETF [2] - Circle's stock closed at $82.34, down 4.59%, but Bernstein analysts maintain a $230 price target, citing strong Q3 performance despite competition from Stripe and PayPal [3] - The total value of Ark's purchase was approximately $15.5 million [4] Bitmine Immersion Trade - Ark Invest increased its holdings in Bitmine Immersion Technologies by purchasing 242,347 shares [5] - Bitmine aims to own 5% of the total Ethereum supply and recently expanded its holdings to 2.9%, now holding over 3.5 million ETH, 192 Bitcoin, and $398 million in cash [6] - The purchase amounted to around $8.9 million [7] Bullish Trade - Ark purchased 177,480 shares of Bullish, with shares closing at $41.02, down 9.85% [8] - The value of Ark's latest acquisition was approximately $7.3 million, indicating continued support for the crypto exchange [8] AMD Trade - Ark reduced its AMD position by 87,051 shares, with shares closing at $247.96, a 4.22% decrease [9] - The sale was valued at about $21.6 million, with mixed analyst reactions to AMD's ambitious $20 EPS target by 2030 [9] Reddit Trade - Ark sold 39,854 shares of Reddit, which closed at $189.42, down 6.61% [10] - Reddit reported Q3 earnings of 80 cents per share and $585 million in revenue, with a 19% increase in daily active users and a 74% surge in ad revenue [11]