Cathie Wood sells $16 million of megacap tech stock [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
Last week, she trimmed her position in a major tech giant, selling shares for four straight sessions. Wood's flagship fund, Ark Innovation ETF ARKK , is down 5.95% year-to-date as of March 24, while the Nasdaq Composite and S&P 500 lost 5.81% and 1.94% during the same period, respectively. Don't miss the move: Subscribe to TheStreet's free daily newsletter Opinions on Wood vary. To her supporters, she is a visionary with a remarkable 153% return in 2020. However, her longer-term performance has raised doubts about her aggressive, opportunistic approach. As of March 24, Ark Innovation ETF, with $6 billion under management, has delivered an annualized three-year return of negative 6.55% and a five-year return of 5.67%. In comparison, the S&P 500 index has a three-year annualized return of 10.15% and a five-year return of 20.55%. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial
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