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On Wednesday, Cathie Wood-led Ark Invest made notable trades involving Advanced Micro Devices Inc. (NASDAQ:AMD), Circle Internet Group Inc. (NYSE:CRCL), Bullish (NYSE:BLSH), and Bitmine Immersion Technologies Inc. (NYSE:BMNR).
Ark Invest sold AMD shares across Ark Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW). The sale involved a total of 72,215 shares, valued at approximately $16.14 million, based on AMD’s closing price of $223.55.
This move comes amid AMD’s ongoing efforts to capitalize on the $1 trillion AI market opportunity, as reported by Benzinga. Despite a recent win to power France’s Alice Recoque supercomputer, AMD shares fell 2.93% on Wednesday, reflecting broader sector concerns ahead of Nvidia Corp‘s earnings report.
Ark Invest purchased 216,019 shares of Circle through ARKF, ARKK, and ARKW. This acquisition is valued at approximately $15.06 million, given Circle’s closing price of $69.72.
Circle, a key player in the digital asset space, saw its shares decline by 8.98% on Wednesday. Analysts have turned bullish on Circle stock recently, and ARK has been buying shares of the USDC (CRYPTO: USDC) issuer. On Tuesday, the Wood-led firm had purchased 40,071 shares worth $3.06 million.
Baird analyst David Koning upgraded Circle Internet Group from Neutral to Outperform while maintaining a $110 price target. Bernstein also reiterated that Circle remains fundamentally strong, reaffirming an Outperform rating and a $230 target. In the third quarter, Circle posted $740 million in revenue, $166 million in adjusted EBITDA, and $214 million in net income — a 202% year-over-year increase.
Ark Invest acquired 463,598 shares of Bullish across ARKF, ARKK, and ARKW, valued at around $16.9 million based on the closing price of $36.39.
Bullish reported strong third-quarter earnings, with revenue surpassing analyst expectations on Wednesday. Despite a decline in digital asset sales, the Peter Thiel-backed cryptocurrency exchange maintains strong momentum. Notably, Ark purchased $1.06 million worth of Bullish stock on Tuesday and another $10.02 million worth on Monday.
Ark Invest purchased 260,651 shares of Bitmine Immersion through ARKF, ARKK, and ARKW. The purchase is valued at approximately $7.65 million, based on BMNR’s closing price of $29.18.
Bitmine’s stock faced pressure as Bitcoin (CRYPTO: BTC) prices fell below $90,000. The drop underscores BMNR's tight correlation to digital assets, given its aggressive treasury strategy. The company recently revealed its crypto and cash holdings have surged to $11.8 billion, making it the largest single holder of Ethereum with more than 3.55 million tokens, or 2.9% of the total supply. BitMine is targeting ownership of 5% of the ETH network over the long term.
Despite short-term market pressure, BitMine continues expanding. The company appointed Chi Tsang as CEO and added three independent directors to bolster governance and growth initiatives.
Benzinga's Edge Stock Rankings indicate AMD stock has Value in the 5th percentile. Here is how the stock compares against Nvidia, which disclosed its quarterly earnings on Wednesday.
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Photo Courtesy: Ira Lichi on Shutterstock.com
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Posted In: $BTC $USDC AMD ARKF ARKK ARKW BLSH BMNR CRCL USDC
