Ark Invest Buys 3,869 Amazon Shares Valued at $804K on AWS Optimism
Cathie Wood’s ARK Next Generation Internet ETF acquired 3,869 Amazon shares worth approximately $804,442 based on a $207.92 closing price. This purchase came despite a 1.29% drop in Amazon’s stock as BofA Securities reiterated a Buy rating citing AWS’s aggressive expansion.
1. Ark Next Generation Internet ETF Purchase
On Thursday, ARK Next Generation Internet ETF added 3,869 Amazon shares to its portfolio, investing roughly $804,442 based on a closing price of $207.92. The trade underscores Ark Invest’s confidence in Amazon’s long-term outlook despite a modest 1.29% decline in its share price.
2. AWS Expansion Drives Optimism
BofA Securities maintained a Buy rating on Amazon, highlighting Amazon Web Services’ aggressive expansion into new regions and product offerings. Analysts believe AWS growth will continue to bolster Amazon’s overall revenue and margin profile in the coming quarters.