Cathie Wood Just Spent $20M on Meta — Here’s Why She’s Selling AMD

TLDR

• ARK Invest bought 34,080 shares of Meta Platforms worth $20.55 million on July 9, 2026
• The Meta purchase came ahead of its Q2 earnings report expected July 29
• ARK sold 10,774 shares of AMD valued at $5.57 million, continuing a week-long reduction
• ARK also acquired 217,896 shares of Circle Internet Group across three ETFs for $13.96 million
• Wall Street gives Meta a Strong Buy rating with an average price target of $817.15

Cathie Wood’s ARK Invest made a series of portfolio moves on Thursday, July 9, 2026. The biggest trade of the day was a $20.55 million purchase of Meta Platforms stock through the ARK Innovation ETF.

Meta Platforms, Inc., META

ARK bought 34,080 shares of Meta. The move came just weeks before Meta is set to report its second-quarter earnings on July 29.

Wall Street expects Meta to post earnings per share of $7.17 on revenue of $60.19 billion for the quarter.

ARK Buys Into Meta’s AI Push

The purchase followed a string of AI-related announcements from Meta. The company launched Muse Spark 1.1, its first paid AI model, and unveiled new AI tools for businesses.

Meta also said its in-house AI chip, Iris, is set for mass production in September. The company announced plans to invest more than $13 billion in a new data center in Alberta, Canada.

On TipRanks, Meta holds a Strong Buy consensus rating based on 34 Buy ratings and five Hold ratings. The average price target of $817.15 points to roughly 29.4% upside from current levels. Meta shares are down 4.2% year-to-date.

ARK Trims AMD and Other Holdings

On the sell side, ARK offloaded 10,774 shares of Advanced Micro Devices through its ARKK ETF. The sale was worth $5.57 million. This is part of a broader pullback in AMD, with ARK reducing its position over the past week.

ARK also sold 85,319 shares of Robinhood Markets for $9.69 million and 70,154 shares of Roku for $9.77 million.

Shares of Twist Bioscience were also trimmed, with ARK selling 98,776 shares for $8.83 million.

Beyond Meta, ARK added to its position in Circle Internet Group. It bought 217,896 shares across its ARKK, ARKW, and ARKF ETFs, totaling $13.96 million.

ARK also picked up 105,364 shares of Ionis Pharmaceuticals for $8.9 million and 544,385 shares of Prime Medicine for $2.52 million.

Smaller buys included 57,462 shares of Generate Biomedicines for $911,921 and 46,302 shares of Compass Pathways for $646,838.

Meta stock rose 6.58% on July 10, the day after ARK’s purchase was disclosed.

The post Cathie Wood Just Spent $20M on Meta — Here’s Why She’s Selling AMD appeared first on CoinCentral.