Cathie Wood: Once bought Nvidia stock at $4, sold to study other companies

ChainCatcher news, in a video interview at the Greenwich Economic Forum in Hong Kong, Ark Investment Management CEO Cathie Wood explained why they sold Nvidia shares at a price of $400. She revealed that Ark initially purchased Nvidia shares in 2014 for about $4, and the ARK Innovation ETF held the stock until its price reached around $400, selling most of it before Nvidia's rapid rise last year. Explaining the reasons behind the reduction of Nvidia shares, Cathie Wood stated, "If Nvidia continues to operate this way, then the only reason it does so is to benefit many other companies, so we started to research what those 'other companies' might be. We did exit, and I think that was somewhat of a statement."