Cathie Wood Sells $22.8 Million of High-Flying Stock Near Peak

Cathie Wood Sells $22.8 Million of High-Flying Stock Near Peak

Cathie Wood, renowned for her bold investments in potentially disruptive technologies, has recently divested $22.8 million worth of a high-performing AI stock.

This strategic move comes as Wood's Ark Investment Management navigates a period of volatile performance, experiencing significant swings between gains and losses.

Ark Innovation ETF Performance

The flagship Ark Innovation ETF (ARKK) is currently demonstrating positive momentum, with a year-to-date increase of 6.11%. This surpasses the S&P 500's growth of 2.02%.

However, it's important to note that ARKK has faced substantial net outflows and has underperformed the broader market in the long term.

Wood's Optimistic Outlook

Despite these challenges, Cathie Wood remains optimistic about the future, anticipating a productivity-led economic recovery. She also disputes forecasts of a prolonged recession.