Ark Sells $8M AMD Shares as Stock Climbs to $516 After Rally

On July 6, Cathie Wood’s Ark Innovation sold more than 15,000 AMD shares worth over $8 million. The move follows Ark’s February 4 purchase of 141,000 shares valued at $28 million after the stock fell sharply. AMD’s May 5 Q1 2026 earnings beat estimates with $10.2 billion revenue, sending the shares from $351.51 to $516.11 by July 7 and delivering a 140% year-to-date gain. The sale is viewed as routine profit-taking rather than a shift in fundamental outlook, with proceeds partly redirected to Kratos Defense.