Cathie Wood's Big Moves: Tech, Crypto, and Biotech in Focus

Cathie Wood's ARK Invest made some bold moves on November 20, shaking up its portfolio with new investments and trimming some existing ones. The spotlight was on Nvidia, a major player in the chip industry, after its impressive third-quarter performance. ARK Invest snapped up 93, 374 shares of Nvidia, worth a cool $17. 5 million, marking their first purchase of Nvidia stock since August. But that's not all. ARK Invest also showed love for the future of flying with Archer Aviation, a company working on electric vertical takeoff and landing (eVTOL) aircraft. They bought a massive 971, 423 shares, showing their confidence in this innovative sector. Crypto wasn't left out either. ARK Invest dipped into several crypto-related stocks, including Bitmine Immersion, Bullish, Circle Internet, and even Coinbase Global. Biotech also got some attention. ARK Invest added shares of Recursion Pharmaceuticals, Pacific Biosciences, CRISPR Therapeutics, and Illumina to its portfolio. These companies are at the cutting edge of genetic research and biotechnology, areas that could shape the future of medicine. On the other hand, ARK Invest decided to trim its stake in AMD, a well-known chipmaker. They also sold off a significant number of shares in Exact Sciences, a company that specializes in cancer detection tests. This move came hot on the heels of Abbott Laboratories announcing a $21 billion deal to acquire Exact Sciences, a move that could shake up the diagnostics industry. It's clear that Cathie Wood and her team are keeping a close eye on the markets, ready to pounce on opportunities and cut ties when needed. Their moves reflect a strategic approach, balancing risk and reward in a constantly evolving investment landscape.