Cathie Wood Just Cut Her Position in an AI Stock That's Climbed 1,000% and Piled Into Shares of 2 Other AI Giants
Cathie Wood is known for two things: making daring investment moves that go against the crowd and doing this with a focus on the long term. This means Wood might sell a spectacularly popular stock that's soaring and buy shares of a stock that's dropped in recent times. The chief executive officer of ARK Invest does this to get in on innovators -- her favorite type of company -- at a reasonable price. She doesn't mind if the stock struggles in the near term because she aims to stick with the companies in her portfolio throughout their growth stories.Just this week, Wood has done exactly this, and the move concerns three artificial intelligence (AI) stocks. AI stocks are right up Wood's alley as the technology promises to revolutionize the way the world works -- and that could represent billions of dollars in revenue for companies that lead the way. This week, Wood cut her holding of one of her favorite stocks -- one that's soared 1,000% over three years -- and added to her positions in two other AI giants. Let's take a closer look at her moves.Image source: Getty Images.Continue reading
Cathie Wood is known for two things: making daring investment moves that go against the crowd and doing this with a focus on the long term. This means Wood might sell a spectacularly popular stock that's soaring and buy shares of a stock that's dropped in recent times. The chief executive officer of ARK Invest does this to get in on innovators -- her favorite type of company -- at a reasonable price. She doesn't mind if the stock struggles in the near term because she aims to stick with the companies in her portfolio throughout their growth stories.
Just this week, Wood has done exactly this, and the move concerns three artificial intelligence (AI) stocks. AI stocks are right up Wood's alley as the technology promises to revolutionize the way the world works -- and that could represent billions of dollars in revenue for companies that lead the way. This week, Wood cut her holding of one of her favorite stocks -- one that's soared 1,000% over three years -- and added to her positions in two other AI giants. Let's take a closer look at her moves.
Image source: Getty Images.
