Cathie Wood Is Loading Up on Cash: 3 Stocks She Just Sold
The growth investor sold more than 20 stocks on Thursday. At least three of those transactions don't make sense.
Cathie Wood Is Loading Up on Cash: 3 Stocks She Just Sold
Overview
Cathie Wood wasn't in a mood to shop on Thursday. The founder CEO of Ark Invest did nothing but sell securities. She reduced her stake across more than 20 stocks within Ark's five aggressive growth exchange-traded funds (ETFs). She didn't buy a single thing.
Is she raising money because she's expecting the market to get cheaper in the coming weeks? The more likely rationale is that she's raising money to make sure she can participate in the big initial public offerings (IPOs) that are hitting the market in the next few weeks.
She sold shares in Archer Aviation (NYSE: ACHR), Robinhood Markets (NASDAQ: HOOD), and Roku (NASDAQ: ROKU) on Thursday. Let's take a closer look at all three calls to reduce her positions across the three stocks.
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Source
Originally published at www.fool.com.
