Cathie Wood's Ark Innovation ETF Sells $15.8 Million of $AMD After 16.7% Monthly Surge

Cathie Wood's Ark Innovation ETF ($ARKK) sold a total of 25,911 shares of $AMD on Oct. 8 and 9, according to Ark's daily trading information sent to TheStreet. The shares were worth about $15.8 million based on the Oct. 9 closing price of $608.1. The sale came after $AMD surged 16.7% over the past month.
$AMD is up 183.95% year to date, far outpacing $NVDA's 22.94% gain. Once among the top 10 holdings of the Ark Innovation ETF, $AMD has dropped to 21st place after multiple sales this year, while $NVDA now ranks 11th.
$AMD fell about 3.9% on Oct. 8 and another 2% the following day after the Financial Times reported that OpenAI's annualized revenue was approaching $50 billion in September, about $20 billion below the previously reported $70 billion figure.
Wall Street remains optimistic. On Oct. 6, Citi raised its $AMD price target to $800 from $575 and reiterated a buy rating, with analyst Atif Malik citing growing demand for computing power from AI agents.
Wood's other recent sales included $GOOG, $HOOD, $SPCX, $DKNG, $SHOP, $PSNL, and $CDNA. She bought $SYM, $CRSP, $GH, $NRIX, $NTLA, $BEAM, $KDK, $ALMR, $KYMR, $FRNM, and $CMPS.