NVDA - Cathie Wood Explains Why She Sold Nvidia 'At The Bottom' But More Importantly Tells Why She Purchased The Shares In The First Place | Benzinga
Cathie Wood, founder of ARK Invest, has responded to criticism regarding ARK’s sale of Nvidia shares, highlighting the fund’s early investment and subsequent profits.
What Happened: In a Monday tweet, Wood addressed a post questioning why ARK sold Nvidia Corporation. (NASDAQ:NVDA) shares amidst a significant rally. “Based on our #AI research,” Wood tweeted, “ARKInvest bought in 2014 at ~$5 when most investors were valuing it as a PC gaming chip company. After more than a 150-fold gain, we continue to take profits.”
Based on our #AI research, @ARKInvest bought in 2014 at ~$5 when most investors were valuing it as a PC gaming chip company. After more than a 150-fold gain, we continue to take profits, grateful to #Nvidia for the companies that are leveraging upon its amazing success. https://t.co/f6JjJfWLhf — Cathie Wood (@CathieDWood) February 26, 2024
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Wood’s tweet comes after ARK Invest sold nearly $4 million worth of Nvidia shares, despite a ...