Cathie Wood Bets Against Mark Zuckerberg's Meta Ahead Of Crucial Earnings Report, Loads Up On This Amazon Rival

On Tuesday, Cathie Wood-led Ark Invest executed notable trades involving Meta Platforms Inc. (NASDAQ:META) , Advanced Micro Devices Inc. (NASDAQ:AMD), and Shopify Inc. (NASDAQ:SHOP).

The Meta Platforms Trade saw Ark Invest offloading 2,865 shares of Meta Platforms Inc. through its ARK Innovation ETF (BATS:ARKK) fund. This move comes ahead of Meta’s anticipated first-quarter earnings report, where analysts expect the company to highlight its advancements in artificial intelligence. The Mark Zuckerberg-led company is expected to disclose earnings figures on Wednesday. The sale, valued at approximately $1.6 million coincides with Meta’s recent launch of a standalone AI app designed to compete with OpenAI’s ChatGPT and Google’s Gemini. The stock closed at $554.44, marking a 0.85% increase on the day.

The AMD Trade involved Ark Invest acquiring 7,786 shares of Advanced Micro Devices Inc. through the ARK Next Generation Internet ETF (BATS:ARKW). The purchase, valued at around $747,923, follows recent market reactions to reports that Huawei has developed an AI chip. AMD’s stock saw a slight decline of 0.34%, closing at $96.06. Notably, Ark also purchased AMD stock worth $3.79 million on Monday.

The Shopify Trade featured Ark Invest purchasing 12,182 shares of Shopify Inc. via the ARKW fund. This transaction, worth approximately $1.2 million, comes amid new challenges for e-commerce platforms like Shopify due to changes in trade and tariff policies. On Tuesday, Shopify’s stock experienced a 0.36% uptick, closing at $98.92.

Other Key Trades:

• Sold 67,053 shares of Schrodinger Inc (SDGR) from the ARKG fund.
• Bought 60,264 shares of Personalis Inc (PSNL) through the ARKG fund.
• Sold 92,782 shares of CRISPR Therapeutics AG (CRSP) from the ARKK fund.
• Bought 61,911 shares of Intellia Therapeutics Inc (NTLA) via the ARKK fund.

Benzinga Edge Stock Rankings indicate Meta Platforms has Momentum in the 78th percentile and Growth in the 75th percentile. How do other Magnificent 7 stocks weigh up? Click here and find out.

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