From BigGo Finance · BigGo Finance · · 1m 10s
Cathie Wood's ARK Buys $8.1 Million of CoreWeave
ARK Invest adds $8.1m CoreWeave shares while trimming Palantir and Shopify.
In brief
ARK Invest adds $8.1m CoreWeave shares while trimming Palantir and Shopify. ARK Invest bought $8.1 million of CoreWeave shares and sold $11.4 million of Palantir, Shopify and Personalis stock. Originally reported by BigGo Finance.
ARK buys CoreWeave shares
ARK Invest bought 132,498 shares of CoreWeave for $8.1 million.
CoreWeave trading activity
CoreWeave shares have fallen sharply this month as investors weigh data center expansion costs and debt.
Goldman Sachs upgrade
Goldman Sachs upgraded CoreWeave to Buy, arguing investors overestimate its cost of capital.
Palantir sales
ARK sold 18,349 Palantir shares worth $3.6 million, marking a third straight session of trimming.
Shopify sales
ARK sold 20,755 Shopify shares worth $3.5 million ahead of November earnings report.
Personalis sales
ARK sold 284,063 Personalis shares worth $4.4 million, the largest single sale.
Biotech purchases
ARK bought shares in Iambic Therapeutics, Scribe Therapeutics and Freenome for $1.9 million.
Market reaction
Wall Street remains split on CoreWeave's ability to convert AI demand into profit before debt costs bite.
The one thing
ARK Invest bought $8.1 million of CoreWeave shares and sold $11.4 million of Palantir, Shopify and Personalis stock.
