Cathie Wood Led Ark Invest Sells NVIDIA Shares Before Massive Bull Run
Shares of technology giant NVIDIA were dumped by Ark Invest via the ARK Innovation ETF (ARKK), an investment vehicle formed and managed by famed investor Cathie Wood, in January, before the company started its historic bull run. WhaleWire, a supplier of crypto market intelligence, said that SEC documents made recently corroborated the selloff.
As a result of its remarkable price increases over the last several days, NVIDIA has been the talk of the technology industry and Wall Street alike.
Missed Opportunity for Cathie Wood
After posting a 24.52% increase in late Thursday trade, the share price for this corporation, which is engaged in the design and production of computer components, hit $380, and the company’s market value hit $940 billion.
Ark Invest, using information obtained from the public SEC filing, has lost out on this phenomenal price appreciation. The community views missing out on NVIDIA’s current run as one of the largest losses in recent years, while it is unclear if the corporation still has any interests in the company after the selloff in January.
Cathie Wood’s stock choices have become mega stocks, propelling her to celebrity investor status. The firm has made headlines for its support of Elon Musk’s Tesla Inc. and its steady accumulation of shares in Coinbase Global Inc., an American crypto trading platform.
The goal of investment and trading is to generate large profits for the investor by grabbing chances and making the most of them. Despite the current pessimism, Cathie Wood is still a major sponsor of some of the most prominent Web3.0 startups via the ARK Innovation ETF and other funds.