Cathie Wood Adjusts Tech Holdings, Stays Bullish on AI

Cathie Wood, the renowned investor behind Ark Investment Management, has been actively rebalancing her portfolio. She recently increased her stakes in tech giants like Nvidia and Google, following her Ark Innovation ETFs remarkable one hundred fifty-three percent return in 2020. However, Woods focus on disruptive technologies has resulted in significant market fluctuations. Despite the funds forty-two percent year-to-date gain, it plummeted over sixty percent in 2022, leading to a negative annualized return over the past five years. Wood recently sold off Meta and Tesla stocks, aligning with their strategic shifts and addressing outflows from her fund. Despite these adjustments, Wood remains optimistic about artificial intelligence, believing it will drive future growth. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.