ARK Invest Shifts Portfolio: Exits AMD for Crypto Exposure via Circle and Bitmine
Cathie Wood's ARK Invest executed a strategic portfolio rebalance on November 13, capitalizing on AMD's 10% post-Analyst Day surge by selling $22.5 million worth of shares. The MOVE signals profit-taking after the chipmaker's AI-focused presentation fueled its rally.
The firm doubled down on crypto infrastructure, allocating $16.3 million to Circle Internet Financial across three ETFs and $9.8 million to Bitmine Immersion Technologies. This marks ARK's second consecutive day accumulating Circle shares, reinforcing its blockchain bet.
Additional tech exits included $15.6 million in Pinterest and $8.2 million in Regeneron, while biotech saw targeted buys like $3.1 million in BEAM Therapeutics. The trades reflect Wood's signature rotation from mature tech toward disruptive innovations.