Connect with us

Hi, what are you looking for?


Cathie Wood swaps Tesla for Nvidia Corporation

Nvidia Corporation (NASDAQ: NVDA) was hit hard yesterday after the U.S. announced new restrictions on export of high-end chips to China.

Cathie Wood remains bullish on Nvidia Corp

Shares slid 7.0% as the chipmaker warned of a consequent $400 million hit to sales this quarter. None of that, though, is a matter of concern for Cathie Wood.

The influential investor engaged her flagship ARK Innovation Fund on Thursday to load up on about $32 million worth of Nvidia shares on the weakness. She saw it as an opportunity big enough to trim her largest holding (Tesla Inc) by just as much to fund the purchase.

“ARKK” is now 30% more exposed to Nvidia Corporation, which, however, is still not in its largest twenty holdings.

Year-to-date, the stock is now down nearly 55%.

Wood also bought Nvidia using two other ETFs

Wood spent another $9.5 million on the semiconductor giant via two of her other funds (ARKQ and ARKW) as well.

A comparable trim was made to Tesla Inc (NASDAQ: TSLA) in these two ETFs as well. What else she recently bought and sold include:

Bought $9.0 million worth of Exact Sciences, Ginkgo Bioworks, and Teladoc combined
Sold $9.0 million worth of Compugen Ltd and Signify Health combined

The news comes a day after Bloomberg said about $803 million flowed out of her flagship ARK Innovation Fund in August – the biggest monthly outflow since September of 2021.

“ARKK” is now down nearly 60% versus the start of the year.  

The post Cathie Wood swaps Tesla for Nvidia Corporation appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023