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Cathie Wood's Ark Invest continues to take profits in NVIDIA

Published 26/02/2024, 11:56 pm
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NVDA
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Ark Invest CEO Cathie Wood revealed in a tweet Monday that her firm continues to take profits in NVIDIA (NVDA).

As the artificial intelligence rally intensifies, Wood has been trimming her firm's holdings in the chip company after a more than 200% rise in the last 12 months.

In her tweet, Wood stated that based on their initial AI research, Ark bought shares of Nvidia (NASDAQ:NVDA) in 2014 at $5 per share "when most investors were valuing it as a PC gaming chip company."

"After more than a 150-fold gain, we continue to take profits, grateful to #Nvidia for the companies that are leveraging upon its amazing success," added Wood.

Premarket Monday, Nvidia shares are up 0.85%, trading around the $794.86 mark.

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