Cathie Wood, the CEO of Ark Investment Management, is known for her focus on disruptive technologies. However, her fund, ARKK, which was the best-performing actively-managed fund in 2020, has experienced a significant decline in value. Wood has been selling shares of her favorite company, Tesla, despite its recent strong performance. This has raised concerns about the sustainability of Tesla's stock price. Although ARKK has sold some Tesla shares, it still remains the fund's largest holding. Wood has not changed her optimistic outlook on Tesla, and the recent sales may just be a minor trimming of the fund's stake in the company. The fund could be reallocating funds to other undervalued companies or taking advantage of gains in Tesla at an opportune time.



Other News from Today