Cathie Wood Onto 'Next Thing' In AI After ARK's Nvidia Exit: What's On Her Radar? - $ARKK
- 11 months ago
Ark Invest founder Cathie Wood clarified her firm's flagship fund Ark Innovation ETF ARKK decision to cash out of Nvidia following criticisms that it missed the boat on the stock's massive rally.
Ark owned Nvidia since the inception of its funds and some of its funds, including Ark Autonomous Technology and Robotics ETF ARKQ
and Ark Next Generation Internet ETF ARKW still own the stock, Wood said in an interview with Bloomberg.
The fund manager also noted that three of Ark's funds in Japan – metaverse fund, mobility-as-a-service fund and global digitization funds also own Nvidia.
As the stock went from $5, when Ark first bought, to $400, the Wood-run firm has taken profits on it, she said. "There’s a lot of good news discounted in this stock and we still think it will do well over time," she added.
Ark owned Nvidia since the inception of its funds and some of its funds, including Ark Autonomous Technology and Robotics ETF ARKQ
and Ark Next Generation Internet ETF ARKW still own the stock, Wood said in an interview with Bloomberg.
The fund manager also noted that three of Ark's funds in Japan – metaverse fund, mobility-as-a-service fund and global digitization funds also own Nvidia.
As the stock went from $5, when Ark first bought, to $400, the Wood-run firm has taken profits on it, she said. "There’s a lot of good news discounted in this stock and we still think it will do well over time," she added.