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Cathie Wood Just Missed Out On a Big Payday For a Favorite Stock

The life of an active stock picker with over a million social media followers is not easy. 

No matter how many wins you have, the losses are what people tend to notice most, and Cathie Wood is being noticed this week for missing out on one of the biggest market windfalls of the year so far. 

DON’T MISS: Nvidia Stock Surges to Records; Here’s How to Trade It

Wood’s Ark Invest started dumping its holdings of chipmaker Nvidia  (NVDA) – Get Free Report late last year and hasn’t stopped doing so. Ark owned 1.3 million shares of Nvidia across all of its ETFs in early October, this week that number was down to just 390,000 shares.

Analysts at Business Insider estimate that the draw down cost Ark Invest more than $200 million in potential profits as Nvidia has exploded, jumping 30% in one after hours session following its earnings release earlier this week. 

While Nvidia reported solid earnings and revenue results, it was management’s blowout guidance that ignited the leap to the upside.

The shares are now up 160% on the year and up more than 250% from the 52-week low made in October.

In February, Wood said that Ark  (ARKK) – Get Free Report was dumping its Nvidia shares because the valuation was “very high.” But now that the company’s market cap has added $200 billion in just two days and sits around $940 billion, Wood is probably wishing she was further in on Nvidia’s even higher valuation. 

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