October 22, 2024

Cathie Wood's Ark Invest Buys $3.95M Worth Of Amazon Stock Amid Company's Nuclear Moves

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On Monday, Cathie Wood-led Ark Invest made a significant move by purchasing shares of Amazon.com Inc AMZN. This comes amidst recent developments suggesting that Amazon may be ramping up its interest in nuclear energy to fuel its growing needs.

The Amazon Trade

Ark Invest’s ARK Autonomous Technology & Robotics ETF ARKQ fund purchased 20,883 shares of Amazon, reflecting 0.4951% of the ETF. At the closing price of $189.07 on the same day, the value of the trade amounts to approximately $3.95 million. This move follows a series of recent developments around Amazon’s potential foray into nuclear energy.

A Benzinga report, in September, revealed that Amazon had reposted a job opening for a Principal Nuclear Engineer in its Data Center Engineering division, raising questions about its long-term energy strategy. Additionally, Amazon announced the expansion of its collaboration with Intel Corp., which has also positively impacted its stock.

Wood’s confidence in Amazon has sparked a debate on whether this is a signal of the tech giant’s impending turnaround or another high-risk gamble.

See Also: Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site

Other Key Trades:

Ark Invest’s ARKG and ARKK funds bought shares of CRISPR Therapeutics AG (CRSP) and Cerus Corp CERS.

ARKQ sold a significant number of shares of Oklo Inc (OKLO) while buying shares of BWX Technologies Inc (BWXT) and 3D Systems Corp ( DDD). Shares of Materialise NV (MTLS) and Markforged Holding Corp (MKFG) were sold by the ARKQ and ARKX funds.

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

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