SLGC - Cathie Wood's Ark Invest Sells Nearly $4M Worth Of NVIDIA Shares — Does It Herald Shift To Undervalued AI Gems? | Benzinga
On Monday, Cathie Wood-led Ark Invest made a notable move by selling nearly $4 million worth of NVIDIA Corp (NASDAQ:NVDA) shares. This significant trade comes in the wake of Wood’s previous remarks about the tech giant being “really expensive and very obvious”.
The NVIDIA Trade
Ark sold 8983 shares of the Jensen Huang-led company through the ARK Genomic Revolution ETF (BATS:ARKG). The transaction was valued at $4.02 million — based on the stock’s closing price of $447.82 on Monday.
Ark Invest's decision to offload NVIDIA shares aligns with Cathie Wood's earlier sentiments. Wood has been vocal about her perspective, considering other less obvious but profitable avenues in the AI sector. The sale of NVIDIA, a company that recently crossed $1 trillion ...