Shares of technology giant Nvidia Corporation (NASDAQ: NVDA) are up over 220% year-to-date in 2023, a move that has helped propel the company into the one-trillion dollar market capitalization club.
Ark Invest may have been early to the large movement, but also sold out of the position early, leaving potential gains on the table.
What Happened: Nvidia was previously a large holding in the Ark Funds’ flagship Ark Innovation ETF (NYSE: ARKK), before the company sold the stake in January 2023.
By selling the position in the flagship fund, Ark missed out on a sizable move for the technology stock.
“This is portfolio management,” Ark Invest CEO Cathie Wood said of the trade when asked if she regrets selling early.
Going forward, Wood sees a more promising opportunity in the expansion of artificial intelligence.
On Monday, CNBC asked her how she could label a stock like Nvidia as costly based on its ...