Cathie Wood's Ark Invest Sold $11.8 Million of AMD Stock on a Single Day Last Month. Should Other Investors Also Sell?
The sale was part of the $68.1 million in AMD share sales it reported in July.
Overview
As of Aug. 3, Advanced Micro Devices (NASDAQ: AMD) has delivered returns of around 180% over the last year. This occurred as the company became more competitive with market leader Nvidia in the AI accelerator space.
Not surprisingly, those gains have brought much higher valuations, which likely was a factor in Cathie Wood's Ark Invest selling some of its AMD shares. Despite those sales, longer-term investors probably should not sell, and here's why.
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Originally published at www.fool.com.
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