On June 6, in a video interview with the Greenwich Economic Forum in Hong Kong, Cathie Wood, CEO of Ark Investment Management, explained why she was selling Nvidia stock for $400. She revealed that Ark originally bought Nvidia stock for about $4 in 2014. The ARK Innovation ETF held the stock until its price reached around $400, and sold most of its shares before Nvidia's meteoric rise last year.
Explaining the reasons behind the Nvidia stake sale, Cathie Wood said: "If Nvidia continues to operate like this, then the only reason it's doing this is to benefit a lot of other companies, so we started looking at what those'other companies' might be. We did exit, and I think it's a bit of a statement."
Cathie Wood: He bought Nvidia stock for $4 and sold it because he wanted to research other companies
2024-06-06 12:48:07
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