"Cathie Wood's Latest Moves: Loading Up on Chip Stocks and One Cheap Stock While Dumping Tesla"
ARK Investment Management, led by Cathie Wood, purchased over $3.8 million worth of chip stocks on Monday, including over 18,500 shares of Advanced Micro Devices and over 18,000 shares of Taiwan Semiconductor. The purchase was made via the ARK Autonomous Technology & Robotics ETF and the ARK Next Generation Internet ETF. Chip stocks have seen a correction since mid-June, and AMD shares have lost over 9% in the last five trading sessions. ARK also sold over 8,200 shares of Tesla at an estimated valuation of close to $2 million.