Cathie Wood's Fund Buys Big Chunk of AMD Stock

A fund managed by well-known investor Cathie Wood made a notable move on Monday, adding a significant number of shares in chipmaker Advanced Micro Devices (AMD) to its holdings. According to reports, Cathie Wood's ARK Next Generation Internet ETF (ARKW) purchased 81,528 shares of AMD stock. Based on AMD's closing price of $160.25 on Monday, this trade is valued at roughly $13.06 million. This purchase shows the fund's increased confidence or strategic positioning in AMD. While the article highlights this specific buy, it also mentions the fund made other trades on the same day, buying some stocks and selling others like Coinbase. For everyday investors, this action by a prominent fund manager like Cathie Wood is often watched closely as it indicates where large investment firms are putting their money. It's one piece of information investors might consider when looking at a stock like AMD.