ARK Invest sells AMD shares, buys Nvidia and Tesla stock

On Tuesday, ARK Invest bought shares in Nvidia and Tesla while selling its AMD stock. ARK Invest manages funds that focus on new and fast-growing technology companies. The firm bought 48,352 Tesla shares for about $17.1 million. Tesla shares closed at $352.84 that day. ARK Invest also added Nvidia to its portfolio. Nvidia had recently announced a $150 billion plan to buy back its own shares, which made the stock more attractive to investors. ARK Invest also picked up shares in two smaller companies, Veracyte Inc. and Intellia Therapeutics. It bought nearly 120,000 Veracyte shares worth around $2.3 million. These trades show how large investment firms respond quickly when companies make major financial announcements.