Cathie Wood sells AI stock, buys 182,000 shares of beat-up tech stock
Ark funds sold a combined 5,086 shares of semiconductor and artificial intelligence titan $NVIDIA(NVDA.US$ on Friday and Monday, valued at $4 million as of Monday’s close. Wood has sold the company’s shares throughout February.
The stock has surged more than 240% over the past 12 months amid AI mania. Nvidia is the largest producer of highly powerful and energy-efficient graphic processing units (GPUs) used to train and run AI apps.
Wood likely took some serious profits on her position. She said last year that Nvidia lacks excitement, calling it “obvious” and “expensive.”
Also Friday and Monday, Ark funds unloaded 59,702 shares of $Coinbase(COIN.US$ , the country’s largest cryptocurrency exchange, valued at $11.6 million as of Monday’s close.
The stock has more than tripled over the past 12 months as cryptocurrencies soared. So, Wood may have felt it was time to take some profits there, too.
Nevertheless, Coinbase still represents the biggest holding in Ark Innovation ETF. And Wood is a major cryptocurrency advocate. The stock has slid 23% from its reference price in an April 2021 direct listing.
Ark funds also shed 677,950 shares of online securities brokerage $Robinhood(HOOD.US$ , valued at $10.6 million as of Monday’s close. Wood has been selling the stock since Feb. 13, after buying it from Jan. 30 to Feb. 13.
Robinhood shares have doubled since Nov. 9 amid strong earnings as stock trading bloomed. So again, she may have wanted to take profits. The stock has dropped 58% from its initial public offering price in July 2021.
On the buy side, Ark funds purchased 182,020 shares of $Roku Inc(ROKU.US$ the biggest U.S. streaming platform, valued at $11.7 million.
The stock has plunged one-third since Feb. 15 amid news that Walmart was buying TV maker Vizio, a major Roku competitor. Strong competition in the streaming industry overall is weighing on Roku, too.
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Ultratech : are you seriously following woods? she buys and sells randomly...
Andre88888888 : Her only good buy was Tesla when it was at early stages
101644863 Andre88888888: no cutting la this woman...look at her cannot make it....her spectacles always very dirty never clean
Andre88888888 101644863: Hahaha that one never notice Lei bro
I go check check
102514703 : She also sold Coinbase the day before yesterday, but Coinbase has been booming for both days