COIN - Why Can't Cathie Wood Stop Selling These 3 Tech Innovators Right Now?
2024-02-20 14:39:00 ET
Prominent growth investor Cathie Wood is rebalancing her largest and most familiar growth-stock fund. The Ark Innovation ETF (NYSEMKT: ARKK) exchange-traded fund has sold millions of shares in Coinbase Global (NASDAQ: COIN) , Zoom Video Communications (NASDAQ: ZM) , and Twilio (NYSE: TWLO) in recent weeks.
These are some of Cathie Wood's best-loved investments, and she often praises them in recent interviews. So why is she dumping these choice holdings by the boatload?
I don't have a direct line to Wood's fund management office, but let's try to figure out why she's leaning away from these particular stocks in February 2024.
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Why Can't Cathie Wood Stop Selling These 3 Tech Innovators Right Now?