"America's No. 1 Retirement Stock" (Name Inside)

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Cathie Wood's Ark Invest Sells $20M+ Coinbase Shares As Bitcoin Trades Over $70K, Buys Palantir, Sells Nvidia Stock

Benzinga Neuro
April 11, 2024

On Thursday, Cathie Wood’s Ark Invest made significant trades involving Coinbase Global, Inc. (NASDAQ:COIN), Palantir Technologies Inc. (NYSE:PLTR), and Nvidia Corp. (NASDAQ:NVDA). These trades were made amidst a backdrop of fluctuating market conditions and strategic investment decisions.

The COIN Trade

Despite a recent uptick in Bitcoin (CRYPTO: BTC) prices, Ark Invest sold 77,561 shares of Coinbase from ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW). The value of the trade, based on the last closing price of $263.01, was nearly $20.34 million.

A day earlier, the firm sold 24,141 Coinbase shares worth $6.06 million despite an uptick seen in both Coinbase shares and Bitcoin (CRYPTO: BTC). At the time of writing, Bitcoin traded above the psychologically important $70K mark, despite declining 0.2% over 24 hours.

The PLTR Trade

On the same day, Ark Invest purchased shares of Palantir. This move aligns with Ark’s deepening investment in AI, as evidenced by its recent stake in OpenAI, the parent company of ChatGPT. The value of the PLTR trade, calculated from the last closing price of $22.84, is $162,232.

The NVDA Trade

See Also: Jim Cramer Feels ‘Very Good’ About Ford As Jim Farley-Led Company Is Making A ‘Come Back’

Ark Invest also sold shares of Nvidia, a leading player in the AI industry. This decision was made despite the market’s continued outperformance expectations for the stock. The value of the NVDA trade, based on the last closing price of $906.16, is $2.55 million.

Other Key Trades:

  • Ark Invest bought shares of Teladoc Inc. (NYSE:TDOC).
  • Ark Invest sold shares of UiPath Inc. (NYSE:PATH). Ark Invest bought shares of Recursion Pharmaceuticals (NASDAQ:RXRX).

Read Next: Jim Cramer Stands By Nvidia And Eli Lilly Despite Market Dips, Says ‘Terrific Time To Take Some Profits’


Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Continue Reading...

Popular

Top 3 Materials Stocks You May Want To Dump In May

Three stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Amazon's Betting Big on This Unknown AI Company - Ad

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

Buffett Says No Other Americans Would Have Had To Pay Even A Dime In Federal Taxes If This Had Happened

Warren Buffett suggests that federal taxes will likely increase given the country's precarious fiscal position, and he expressed Berkshire's willingness to cover the tax bill it faces.

Trump Meets With DeSantis, Noem Stirs Up Controversy: How Will Republican Vice President Betting Odds Be Impacted?

The relationship between Donald Trump and Ron DeSantis was heated at times during the Republican primary season, before the Florida governor dropped out of the 2024 presidential election and threw his support behind the

Central Banks Buying Gold in Record Numbers - Ad

Most folks have completely missed the fact that the world's Central Banks have been quietly gobbling up as much gold as they can... Stacking it in their locked vaults on pallets in record numbers. Find out why right here (and see what you can do to get in too with just a few dollars).

Mohamed El-Erian Says Bond And Equity Prices Getting A Boost After Softer-Than-Expected Headline CPI Numbers And Fueling 'Hopes For An Earlier Interest Rate Cut'

Mohamed El-Erian, the Chief Economic Advisor at Allianz, suggested that the latest inflation data could prompt the U.S. Federal Reserve to consider an earlier interest rate cut, potentially boosting bond and equity prices.

Shhh! This Is One Great Coin... - Ad

Shhh! I truly believe this crypto could be one of the top earning cryptos of all time... In fact, in the coming bull run... this one coin could have the potential to bank 10x... 50x... and even 100x.

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

Over the weekend, Elon Musk agreed with a sentiment shared by investment titan Warren Buffett about the importance of spending time with loved ones, despite their contrasting investment philosophies. 

One Tech Tip: Protecting your car from the growing risk of keyless vehicle thefts

LONDON (AP) — They appear like ghosts in the night, standing outside your house, one holding up an antenna while the other crouches next to the car parked on the driveway. Within seconds, your car is gone, yet another victim amid enabled by the technology designed to make it easier to unlock and start vehicles.

Breaking News: Elon Musk Invents New Type of A.I. - Ad

According to 30-year Silicon Valley and Wall Street veteran, Eric Fry... A man who picked 41 plays that jumped 1,000%+... Elon Musk is about to shock the world again with this new type of A.I.... Mining new millionaires in the process.

Jim Cramer Advises Investors To Stick With Good Companies Despite Short-Term Losses: 'You Just Need To Figure Out Which Companies Deserve Your Confidence'

Cramer, a prominent figure in the finance world, suggested that investors should not emulate the trading habits of large hedge funds. Instead, he recommended a long-term investment strategy, emphasizing the need to anticipate and endure market declines.

Shell Exits Chinese Power Market, Eyes Gas Growth: Report

Shell reportedly exits China's power markets, focusing on bolstering profitability in natural gas and oil sectors. The move reflects a commitment to invest selectively in profitable ventures within the power sector, aligning with CEO Wael Sawan's vision.

Must-See: Elon's New Invention is Absolutely Insane - Ad

When you click here and see what Elon Musk's new invention does... And how it works... You will NOT believe it. You'll tell yourself this is just science fiction. But Elon just tested this in a real human... And the result was mind-blowing.

Hope Hicks Testifies On Trump's Ex-Lawyer Michael Cohen's 'Mr. Fix It' Moniker: 'Only Because He Broke It First'

The criminal trial against Donald Trump saw former Trump aide Hope Hicks take the stand Friday and discuss Michael Cohen and the "Access Hollywood" tape.

One Coin to Rule Them All... - Ad

Hardly any investors are talking about this coin but I believe that's about to change with some potentially huge news! Get in on the ground floor while it's rock bottom with this new how-to guide, just $3.

South Sudan removes newly imposed taxes that had triggered suspension of UN food airdrops

JUNA, South Sudan (AP) — Following an appeal from the United Nations, removed recently imposed taxes and fees that had triggered suspension of U.N. food airdrops. Thousands of people in the country depend on aid from the outside.

Fraudsters target small businesses with scams. Here are some to watch out for

NEW YORK (AP) — It's never fun to be scammed, but if you're a small business owner then falling for a scam can have long-lasting effects on a business, damaging client relationships and profit.

Nvidia CEO Says It Will Spark "the Next Revolution" Beyond AI - Ad

Declares this radical biotechnology "is going to be flat out one of the biggest [tech revolutions] ever." And this $10 stock is at the center of all.

'Shark Tank' Host Kevin O'Leary Says Hims & Hers CEO Should Have Been Fired For Backing Pro-Palestinian Protests

Kevin O'Leary, the host of "Shark Tank," criticized Andrew Dudum, the CEO of Hims & Hers, for his support of pro-Palestinian student protests. O'Leary suggested that Dudum should have been fired immediately for his stance.

Despite Bitcoin Hitting $64K, Analyst Says King Crypto Remains In 'Prime Buy Zone'

Bitcoin (CRYPTO: BTC) has surged to $64,000, but a key metric indicates that it’s still in a “prime buy zone,” according to a prominent crypto analyst.

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

Embed-Map-Marijuana-State Laws, ADVISORY

MARIJUANA-STATE LAWS — Map. This AP digital embed map shows the status of state marijuana laws for recreational and medical use. The Biden administration is considering reclassifying marijuana, which remains illegal at the federal level, as a less dangerous drug. This map is current as of May 3, 2024, and will not update. Source: Marijuana Policy Project.

Buy This Next Gen Crypto Before Its Big Upgrade - Ad

Experts predict this one crypto will soar 7,200% by the end of the decade... and grow 20X bigger than bitcoin. But you must get in before it's big.

Macron sets Ukraine as top priority as China's Xi Jinping pays a state visit to France

PARIS (AP) — French President Emmanuel Macron will seek to press China's Xi Jinping to use his influence to move Russia toward ending the war in Ukraine during a two-day . Both leaders were also expected to discuss trade disputes over electric cars, cognac and cosmetics.

South Carolina Senate turns wide-ranging energy bill into resolution supporting more power

COLUMBIA, S.C. (AP) — A bill that power companies call vital to in South Carolina has been turned into a resolution that only expresses support for the idea by the Senate, which wasn't ready to give more latitude to utilities that cost ratepayers billions.

Crypto Millionaires Names His Favorite AI Coin - Ad

According to Bitcoin pioneer and crypto millionaire Charlie Shrem, a tiny $11 project could be the biggest winner of not just the next year, but the next decade. It combines AI and crypto, in one investment.

Landmark Google antitrust case ready to conclude

WASHINGTON (AP) — Lawyers for both the Department of Justice and Google will present arguments Thursday and Friday to conclude the .

Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain

NEW YORK (AP) — Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households.

How to Profit From the New Boom in Gold - Ad

Gold just passed $2,000/oz and is set for a new bull run in 2024. Now a renowned precious metals expert is sharing his No. 1 way to play it for just $5.

Microsoft Introduces Isolated AI For US Intelligence To Analyze Secret Data: Report

Microsoft pioneers a groundbreaking move by introducing an isolated generative AI model exclusively accessible to U.S. intelligence agencies. This offline GPT4-based system, functioning in an "air-gapped" environment, promises heightened security for analyzing classified data, meeting the escalating demand for advanced intelligence tools worldwide.

Elon Musk, Mark Zuckerberg Missing From AI Safety Board, MKBHD Reviews Rabbit R1 And More: This Week In AI News

This week was full of news from the tech and investment world, including Musk's thoughts on AI, Wood's significant trades, Intel's popularity on Reddit, and MKBHD's review of a new AI device.

Should You Buy Bitcoin in 2024? [Expert's Shocking Answer] - Ad

Bitcoin minted 100,000 millionaires and if you're not one of them, that ship has sailed. But there's another millionaire-minting crypto at our doorstep... research shows this coin could be 20X bigger than Bitcoin by the end of the decade. With crypto starting to heat up again, this could be the perfect time to get in.

One Tech Tip: How to spot AI-generated deepfake images

LONDON (AP) — AI fakery is quickly becoming one of the biggest problems confronting us online. Deceptive pictures, videos and audio are proliferating as a result of the rise and .

Italy's RAI journalists strike over budget streamlining, complain of censorship and media repression

ROME (AP) — Some journalists at Italy’s state-run RAI went on strike Monday to protest budget streamlining and what they said was an increasingly repressive atmosphere in Italy for media under the government of Premier Giorgia Meloni.

AI & Crypto in One $11 Investment - Ad

Right now, you can harness the power of two bull markets... Artificial intelligence and cryptos...In one simple $11 investment.

Sony Pictures and private equity firm Apollo express interest in buying Paramount for $26 billion

Sony Pictures and the private equity firm Apollo Global Management have expressed interest in buying Paramount Global for $26 billion, according to a person familiar with the details.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service