Cathie Wood sold some of her remaining Nvidia stake after the stock surged on Monday.
Probably no stock has dented Cathie Wood’s reputation more than Nvidia. The fund manager, known for her love of futuristic technology companies, sold most of her stake in the graphics chipmaker prior to the company announcing that its earnings and sales swelled due to artificial intelligence demand.
Now investors are wondering if Nvidia NVDA, -2.77% can pull a second rabbit out of its hat, when results are announced after the close on Wednesday. The stock surged 8% on Monday but cooled 3% on Tuesday. Wood apparently isn’t bullish. According to Wood’s daily disclosures, the ARK Next Generation Internet ETF ARKW sold just over $1 million worth of Nvidia stock on Tuesday.
One stock she bought: Zoom Video Communications ZM, -2.14%, both in the internet fund as well as the flagship ARK Innovation ETF. Zoom on Monday reported better earnings than forecast, though its sales outlook only matched Wall Street estimates. On Monday, Wood snapped up Adyen ADYEN, +4.01% for the ARK Fintech Innovation ETF ARKF. Adyen is the Dutch payments company whose stock plunged 39% when it announced worse-than-expected earnings and sales, thanks to its own hiring binge and weakness from its North America customers.
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