Reported 6 months ago
Cathie Wood, CEO of ARK Invest, stated that a "significant price correction" would be needed for her to reinvest in Nvidia after selling out in January. Wood highlighted Nvidia as a cyclical stock that could face a price reduction due to inventory build-up, recalling a similar scenario in 2018. Despite Nvidia's shares surpassing $1,000 for the first time and strong first-quarter results, Wood redirected capital to Coinbase and other software companies due to concerns about Nvidia's future performance.
Source: YAHOO