**Key Points on AMD Trades by Cathie Wood’s Ark Invest:**
On July 6, 2023, Cathie Wood’s Ark Innovation ETF sold over 15,000 shares of Advanced Micro Devices (AMD), valued at more than $8 million. This move coincided with the purchase of $5.6 million in shares of Kratos Defense and Security Solutions, indicating a portfolio management strategy rather than any potential issues with AMD itself.
Earlier in February 2023, Ark Invest had capitalized on a dip in AMD stock, acquiring over 141,000 shares worth approximately $28 million after AMD reported disappointing Q4 results, causing its stock price to drop 17.3%. Following a strong performance in Q1 2023, with AMD reporting revenue of $10.2 billion and earnings per share of $1.3 billion above expectations, the stock price rallied significantly, closing at $516.11 per share on July 7, representing a 140% increase year-to-date.
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