Cathie Wood, the founder of Ark Invest, recently made some significant changes to the company’s portfolio. She decided to sell off shares of Tesla and Palantir, two popular stocks in the tech industry. Instead, Wood opted to invest in Amazon and AMD stock.
This move comes as a surprise to many, as Tesla and Palantir have been strong performers in the past. However, Wood seems to have a strategic plan in mind by shifting her focus to Amazon and AMD.
It will be interesting to see how these new investments play out for Ark Invest in the coming months. Wood has a reputation for making bold moves in the stock market, and her latest portfolio maneuver is no exception. Investors will be keeping a close eye on how these changes impact the company’s performance.