According to Odaily, Cathie Wood, the CEO of Ark Investment Management, has provided an explanation for selling Nvidia stocks at a price of $400. Wood revealed that Ark initially purchased Nvidia stocks in 2014 at an approximate price of $4. The ARK Innovation ETF held onto these stocks until their price reached around $400, and sold most of them before Nvidia's rapid rise last year.
When explaining the reason behind reducing Nvidia shares, Wood stated, 'If Nvidia continues to operate in this manner, the only reason for doing so would be to benefit many other companies. So, we started researching what these 'other companies' might be. We did indeed exit, and I think this is somewhat of a statement.' This move by Ark Investment Management highlights their strategic approach to investment, carefully analyzing market trends and company performance before making decisions.
