Reported 4 months ago
Cathie Wood's ARK Invest sold over 1 million shares of Nvidia before the stock's significant surge, resulting in missing out on more than $1 billion in returns. The decision to sell 859,000 Nvidia shares when the price was below $150 per share in 2022 cost Ark Invest $854 million in unrealized returns. Despite retaining some Nvidia shares, Wood expressed concerns about the stock's high valuation and potential for an inventory correction due to over-ordering of GPUs.
Source: YAHOO