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On Wednesday, Cathie Wood-led Ark Invest made significant trades involving Amazon.com Inc. (NASDAQ:AMZN), Alibaba Group Holding Ltd. (NYSE:BABA), Joby Aviation Inc. (NYSE:JOBY), Taiwan Semiconductor Manufacturing Co Ltd. (NYSE:TSM), and Nextdoor Holdings Inc. (NYSE:NXDR). These trades reflect Ark’s strategic positioning in the evolving market landscape.
Ark Invest made a notable acquisition of Amazon.com shares across multiple funds, including ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), ARK Next Generation Internet ETF (BATS:ARKW), and ARK Space & Defense Innovation ETF (BATS:ARKX).
The total purchase amounted to 66,934 shares. With Amazon’s closing price at $216.82, the total value of the transaction was approximately $14.5 million. This move comes amid a period of strategic adjustments in the e-commerce sector, as highlighted by recent shifts in stakes by other major investors. Recently, Hedge fund billionaire Daniel Loeb reshuffled his broadline retail bets in the fourth quarter, opening a new 825,000-share position in Alibaba Group Holding Ltd while trimming his stake in Amazon.com Inc to about 2.17 million shares from 2.81 million.
Amazon reported fourth-quarter revenue of $213.39 billion that topped estimates, outlined plans to lift capex to $200 billion, and committed $50 billion to OpenAI under a new multi-year partnership.
Ark Invest also increased its stake in Alibaba, purchasing 19,583 shares through ARKK and ARKW. At a closing price of $133.27, the transaction was valued at around $2.6 million.
This acquisition follows recent developments in Alibaba’s AI division, which saw leadership changes shortly after the launch of new AI products. Lin Junyang, head of Alibaba Group's Qwen AI division, stepped down days after the launch of the Qwen 3.5 small models, with two other team members also departing.
The exit followed a surge in Qwen's monthly active users to 203 million in February from 31.05 million in January, while no successor was named.
Ark Invest acquired 200,856 shares of Joby Aviation through ARKQ and ARKX. With Joby’s stock closing at $9.89, the purchase was valued at approximately $2 million.
This follows Joby’s recent fourth-quarter earnings report, which provided insights into the company’s financial health and future prospects. Joby Aviation reported EPS of -$0.14, beating estimates by 30%, while revenue rose to $30.78 million year over year.
The company had missed EPS by $0.29 in the prior quarter, which had led to a 4.53% drop in its share price the following day.
Ark Invest reduced its holdings in TSMC by selling 13,663 shares through ARKK and ARKW. The stock closed at $357.44, making the sale worth about $4.9 million.
Despite recent AI breakthroughs, TSM has faced investor concerns over profitability and macroeconomic pressures.
Ark Invest made a significant divestment in Nextdoor Holdings, selling 1,405,207 shares through ARKW. With the stock’s closing price at $1.67, the sale was estimated to be worth $2.3 million.
This move follows Nextdoor’s recent earnings release in February, which provided a detailed financial overview. Nextdoor reported fourth-quarter revenue of $69 million, up 7% year over year, while net loss narrowed to $4 million from $12 million and adjusted EBITDA improved to $8 million.
Benzinga Edge Stock Rankings indicate Amazon stock has a Momentum in the 25th percentile and Value in the 57th percentile.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Photo: ChrisStock82 / Shutterstock.com
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