cnbc.com/2022/08/09/arks-cathie-wood-scoops-up-more-than-60-million-of-nvidia-following-chipmakers-revenue-warning.html
Cathie Wood's Ark Invest scooped up Nvidia shares Monday, buying the dip following the chipmaker's revenue warnings. The innovation-focused investor added 289,229 shares of Nvidia for her flagship Ark Innovation ETF fund. Combined, these purchases cost more than $65 million based on Nvidia's closing price of $177.93.

Nvidia is down nearly 3% premarket Tuesday. The stock has fallen nearly 40% this year as growth names have been hit hard by rising interest rates and soaring inflation. Semiconductor companies have also been grappling with supply chain disruptions globally. The memory chipmaker warned that revenue may fall short of its prior guidance.

ARKK is now up nearly 46% from its 52-week low reached in mid-May. Her flagship actively managed fund Ark Innovation ETF (ARKK) is down 46% year to date, as her disruptive technology darlings have been among the biggest losers in the face of higher rates.
Posted by WA wagmi
Tap to Copy the Short Url to This Post:
bto.sh/n38jmjsh 
One-Stop Business News backed by Mark Cuban. Free to Use →