Cathie Wood Sells $8M AMD Stock While Buying SpaceX on July 9

Cathie Wood’s ARK Invest executed contrasting trades on July 6 and 9, selling over 15,000 AMD shares worth $8 million while deploying $27 million into SpaceX across four ETFs. The moves reflect Wood’s dynamic portfolio management as AMD stock surged 56% from February lows to $516.11, while SpaceX slumped 34% from its post-IPO peak. The trades reveal how growth-focused investors balance profit-taking in winners against bargain-hunting in beaten-down names.

Why Wood sold AMD after a massive rally

AMD stock climbed from $351.51 on May 5 to $516.11 by July 7, fueled by first-quarter earnings that beat expectations. Revenue hit $10.2 billion versus $9.8 billion expected, with Q2 guidance of $11.2 billion above the $10.5 billion consensus. Wood’s ARK bought 141,000 AMD shares in February after a 17.3% drop, turning a $28 million position into roughly $73 million in five months. The $8 million sale on July 6 appears to be profit-taking rather than a loss of confidence in the semiconductor rally.

SpaceX dip-buying at $148.30 signals conviction

SpaceX stock fell 34% from its $225 post-IPO peak to $148.30 by July 9, below its $150 first-day opening price. Wood deployed $27 million across ARKK, ARKW, and two other ARK ETFs, elevating SpaceX to the fourth-largest combined position at 4.5% of portfolio value. The $165.6 million stake reflects Wood’s willingness to catch falling knives in disruptive technology, even as the company faces ongoing losses, rising debt, and post-IPO lockup expirations.

AMD’s AI momentum stays strong despite the sale

AMD will report Q2 earnings on August 4, with analysts expecting EPS of $1.35 versus $1.11 in Q1. Meyka grades AMD a B+ with a 12-month forecast of $556.59, suggesting 1.8% upside from July 10 levels. Seven analysts rate the stock a Buy versus one Hold, though the PE ratio of 119.37 reflects stretched valuation after the 155% year-to-date rally.

CoreWeave and the AI infrastructure play

ARK also loaded up on CoreWeave (CRWV) in April, acquiring $18.2 million of shares before the stock fell 8.9% in the past month to $89.70. ARK has invested at least $80 million into CoreWeave this year as the GPU cloud provider benefits from AI infrastructure demand. Meyka grades CRWV a D+ with strong sell signals across valuation metrics, though the company trades 41% below its $153.50 year high.

Final Thoughts

Wood’s AMD sale and SpaceX purchase reveal her core strategy: harvest gains in proven winners to fund bets on disruptive long-shots. With AMD valued at 119x earnings and SpaceX down 34%, the risk-reward calculus favors rebalancing into cheaper, higher-conviction plays despite near-term uncertainty.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.