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

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

The Tesla Shock Nobody Sees Coming - Ad

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

Jeff Bezos, Lauren Sanchez Get Married In A $50 Million Wedding In Venice: From Foam Party On His $500 Million Yatch To Goodie Bags, Here's What We Know

Jeff Bezos and Lauren Sánchez's extravagant $50 million wedding in Venice included a foam party on his $500 million yacht.

A Historic Gold Announcement Is About to Rock Wall Street

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Mystery Seller Behind $105 Million Plot Next to Jeff Bezos Estate Finally Revealed

A plot of land neighboring Jeff Bezos' property in Miami was sold for a staggering $105 million. The undeveloped lot was sold by German investor Mikhail Peleg.

Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset

Warren Buffett has shifted his investment strategy, investing $459 million in Sirius XM after selling his stakes in Bank of America, JPMorgan Chase, and Wells Fargo.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

FDA requires updated warning about rare heart risk with COVID shots

WASHINGTON (AP) — said Wednesday it has expanded existing warnings on the two leading COVID-19 vaccines about a rare heart side effect mainly seen in young men.

Goldman Just Launched Two New Bond ETFs; Here's Why Investors Should Pay Attention

Goldman Sachs Asset Management debuts two new actively managed fixed income ETFs in response to rising demand for active strategies in a volatile rate landscape.

Copper's Spiking - And This Junior Has the Grades to Match

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

Trump vents online about service provider after conference call marred by glitch

WASHINGTON (AP) — On Monday afternoon, the president of the United States was just another person complaining online about his service provider.

Iran’s president orders country to suspend cooperation with UN nuclear watchdog IAEA

DUBAI, United Arab Emirates (AP) — Iran’s president on Wednesday ordered the country to suspend its cooperation with after American and Israeli airstrikes hit its most-important nuclear facilities, likely further limiting inspectors' ability to track Tehran's program that had been enriching uranium to near weapons-grade levels.

What It's Really Like To Work With Elon...

What It's Really Like To Work With Elon... - Ad

A business partner of mine recently told me how one morning, Elon's "DOGE Agents" simply showed up. The whole departments were merged. Dozens of tasks and contracts were reassigned. Several projects were permanently shut down and replaced. That's when he called me, and I realized what was happening.

Musk Third-Party Odds Hit 47% — Can The Tesla Chief Do What No One Has Since 1853?

A promise to create a third party from billionaire Elon Musk comes with historical difficulties of challenging the current two-party system.

US brings charges in North Korean remote worker scheme that officials say funds weapons program

WASHINGTON (AP) — The Justice Department announced criminal charges Monday in connection with a scheme by North Korea to fund its weapons program through the salaries of remote information technology workers employed unwittingly by U.S. companies.

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold - Ad

Buffett's favorite market signal just hit its highest level in history-stocks are more overvalued than 1929. He's sitting on $325B in cash... and may be about to buy one overlooked gold miner. I've identified it-plus 4 others with up to 100X potential.

Big Banks Pass Fed's 2025 Stress Test With Ease—But Some Say It Was Too Easy

All major U.S. banks passed the Fed's 2025 stress test, but critics say easier assumptions may have padded the results.

How to manage ADHD at work and turn it into a strength

NEW YORK (AP) — Jeremy Didier had taken her son to a psychologist for a when she spotted an article about women with the condition. As she read it in the waiting room, she thought to herself: They're describing me.

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Netflix's Squid Game Finale Takes Over Seoul With Massive Parade, Star-Studded Fan Event

Netflix celebrated the finale of Squid Game with a parade and fan event in Seoul, featuring characters and emotional reflections from cast.

Nations are meeting to drum up trillions to combat poverty — but the US isn't going

UNITED NATIONS (AP) — Many of the world’s nations are gathering starting Monday in Spain for a high-level conference to tackle the and try to drum up trillions of dollars needed to close it. The United States, previously a major contributor, pulled its participation, so finding funding will be tough.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Tesla Rival BYD Reports 2025's Best-Selling Month In June Amid Exports Surge

BYD's June sales hit 377,628 units, a 11% YoY growth, with 54.8% being EVs. BYD also saw a 234% increase in exports.

Republicans hit major setback in their effort to ease regulations on gun silencers

WASHINGTON (AP) — Republican efforts to loosen regulations on and short-barreled rifles and shotguns have been dealt a big setback with the Senate parliamentarian advising that the proposal would need to clear a 60-vote threshold if included in their big tax and immigration bill.

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

What's in the latest version of Trump's big bill that passed the Senate

WASHINGTON (AP) — Republicans are getting closer to the finish line in getting their tax and spending cut bill through Congress with a final House vote possible on Wednesday.

Bye Bye Birdie: Twitter Blue Bird Logo Blown Up To Promote Online Marketplace Company

Elon Musk bought Twitter for $44 billion and rebranded it to X, auctioning off old memorabilia like the iconic blue bird logo. Ditchit, the buyer of the logo, recently blew it up in a promotional stunt.

Gold Just Hit Another Record. This Junior Could Be Next.

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

Robinhood, Apple, Oracle, Plug Power And Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Monday, major U.S. indices closed in positive territory, with the Dow Jones Industrial Average rising 0.6% to 44,094.77.

Embed-chart-July Fourth-Pool Party Prices, ADVISORY

JULY FOURTH-POOL PARTY PRICES — chart. A market research company’s preliminary data shows that getting all the gear needed to host a pool party costs less than it has in years. This chart is current as of 07, 03, 2025 and will not update. Source: Numerator

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Amazon Hits 1 Million Robots, Should Human Workers Be Worried?: Company Says 'Creating New Career Opportunities'

If Amazon has one million robot workers, should human workers be worried? Not yet, the company says.

Trump's Approval Ratings, Tariff Deadlines, Schumer's Criticism, And Defense Budget Shifts: This Week In Politics

Trump's approval ratings drop after Iran attack, hints at tariff deadline flexibility. SC limits judges' power, Schumer criticizes GOP budget, defense budget shifts to missiles and drones.

A Historic Gold Announcement Is About to Rock Wall Street

A Historic Gold Announcement Is About to Rock Wall Street - Ad

Vinod Khosla Recalls Betting On OpenAI After Elon Musk Backed Off Funding: Google Was Moving Very 'Slow,' Baidu Was Stealing Talent

Venture capitalist Vinod Khosla revealed how Elon Musk's funding withdrawal from OpenAI created the investment opportunity that led to his conviction bet on the artificial intelligence startup

Trump ramps up attacks on the Federal Reserve but Powell sticks to 'wait and see' stance

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday stuck to that the central bank will keep its key rate on hold while it waits to see how President Donald Trump's effect the economy, despite the from the White House, which wants lower borrowing costs.

How to Hack a $1.3T Market