AMD Stock Slips After Cathie Wood's ARK Dumps Millions in Shares
AMD shares fell about 3% after Cathie Wood's ARK Invest sold 215,643 shares, valued at $66 million to $75 million. This sale, seen as profit-taking after a 70% gain over the past month, adds caution to a stock that had recently rallied. The move highlights AMD's sensitivity to sentiment shifts in the semiconductor sector, especially following Intel's strong results. ARK's actions reflect the volatile nature of the AI chip market, where investor appetite is closely monitored.
AMD shares fell about 3% on Monday after Cathie Wood's ARK Invest pared back its stake in the chipmaker, adding a fresh layer of caution to a stock that had rallied sharply in recent weeks.
ARK sold 215,643 AMD shares across five exchange-traded funds on April 24, a position cut valued at roughly $66 million to $75 million depending on the source and pricing used in the report. The trades followed a strong run in AMD shares, which climbed 13% on April 24 and had gained nearly 70% over the past month.
The sale appeared to reflect profit-taking after the recent surge rather than a formal shift in Ark's long-term view. Even so, the move comes as AMD's shares have become more sensitive to shifts in sentiment across the semiconductor sector, especially after Intel's stronger results helped lift chip stocks last week.
ARK's activity underscores how quickly momentum can change in the AI chip trade, where sharp gains have left investors watching for signs of cooling appetite.
