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Cathie Wood-led Ark Invest offloaded nearly $4 million worth of Nvidia Corp (NASDAQ:NVDA) shares on Thursday, despite the stock’s ongoing rally fueled by robust fourth-quarter earnings and optimistic analyst forecasts.
The NVIDIA Trade
The firm sold 5,067 Nvidia shares through ARK Next Generation Internet ETF (NYSE:ARKW). The transaction was valued at $3.98 million. Nvidia shares rallied 16.4% in the regular session to $785.38 on Thursday. The shares gained another 1.7% in the after-hours trading.
Nvidia shares have shot up 58.6% so far this year — the gains are even more impressive over 12 months at 231.9%.
Ark Invest’s decision to sell Nvidia shares captures attention, especially considering the company’s recent financial achievements and the bullish outlook provided by several analysts. Nvidia in the fourth quarter surpassed revenue expectations and provided strong guidance for the first quarter, signaling continued growth in the AI sector.
Further analysis by seven analysts echoed this sentiment, highlighting Nvidia’s sustained momentum in AI technologies.
See Also: Time To Dive Into Cathie Wood’s Portfolio Stocks? Ark Founder Says They’ve Corrected Tremendously
Other Key Trades:
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