Cathie Wood's Ark Invest Piles TSMC Shares, Sells Stock Of This Tesla Rival

Benzinga2023-07-21

On Thursday, July 20, 2023, Cathie Wood’s Ark Invest made two trades, one of which was a significant investment in Taiwan Semiconductor Mfg. Co. Ltd. (TSMC).

This move comes in the wake of the company’s recent Q2 earnings report and amidst a broader focus on AI technologies.

The Taiwan Semiconductor Trade

Ark Invest, through its ARK Autonomous Technology & Robotics ETF (ARKQ), purchased 28,909 shares of Taiwan Semiconductor. The transaction was valued at $2.83 million, based on TSM’s Thursday closing price of $97.86.

This move comes after the company’s Q2 earnings report showed a year-on-year revenue decline of 13.7% to $15.68 billion, beating the consensus of $15.49 billion.

Despite the decline, the company’s EPS of $1.14 beat the consensus of $1.08.

Other Key Trades:

Ark Invest sold 72,519 shares of General Motors Co through ARKQ.

These trades reflect Ark Invest’s continued focus on AI and technology companies, as well as their strategic responses to recent market developments.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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