On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Broadcom Inc. (NASDAQ:AVGO), Cerebras Systems Inc. (NASDAQ:CBRS), and Advanced Micro Devices, Inc. (NASDAQ:AMD).
The Broadcom Trade
Ark Invest made a notable purchase of Broadcom shares across its ARK Innovation ETF (BATS:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Next Generation Internet ETF (BATS:ARKW). The trades involved acquiring 55,548 shares. At the latest closing price of $362.48, the total value of these purchases amounts to approximately $20.1 million.
Broadcom’s recent market performance has been under scrutiny due to its ambitious AI expansion plans. The company is reportedly involved in a financing vehicle that could amass $370 billion in senior debt by 2029. This has led to a drop in Broadcom’s stock price, which fell by 12.87% over the last 5 days.
The Cerebras Trade
