TECH - Cathie Wood's Ark Invest Keeps Unloading 'Overvalued' Nvidia But It Just Added $4M Worth Of Stock In AI Chipmaker's Supplier | Benzinga
Nvidia Corp. (NASDAQ:NVDA) has fallen out of favor with Cathie Wood-run Ark Investment Management not due to a lack of confidence in its fundamentals, but rather because of its stretched valuation. While Ark’s flagship exchange-traded fund, Ark Innovation ETF (NYSE:ARKK), has cashed out of Nvidia and other Ark funds are gradually trimming their Nvidia holdings, the firm on Monday bought shares of a key supplier of the chipmaker.
What Happened: Ark, through its ARK Next Generation Internet ETF (NYSE:ARKW), bought ...