Reported 1 day ago
Cathie Wood, head of Ark Investment Management, recently sold $4 million worth of Roblox stock as it faced a significant drop, in line with her strategy of managing losses during market downturns. This decision comes after her flagship fund, the Ark Innovation ETF, significantly underperformed the market, influenced by a 35% decline in its largest holding, Tesla. Despite initial gains at the beginning of the year, the fund has struggled with net outflows and criticisms regarding its investment strategy in emerging tech companies.
Source: YAHOO