Cathie Wood Just Sold CRISPR Therapeutics Stock. Here's Why You Should Consider Buying It
On May 10, Cathie Wood's ARK Innovation ETF (NYSEMKT: ARKK) made two sales of CRISPR Therapeutics (NASDAQ: CRSP) stock, dumping more than 249,500 shares. Given that the biotech looks to be on the cusp of commercializing its first medicine, the timing of Wood's move might seem a bit strange. Why trim her position right now, when holding on for just a bit longer could lead to dramatically larger gains?
As it turns out, there's probably a good reason why Wood sold her shares. And regardless of what she did, there are also a couple of good reasons why you should consider buying a few to call your own. Let's explore both of these issues to see if it'd make more sense for you to follow Wood's lead or to do the opposite.
In case you're out of the loop, CRISPR Therapeutics is a clinical-stage biotech company that's using the CRISPR-Cas9 gene editing system that it's named after to create treatments for hereditary hematologic disorders, cancers, and even diabetes.
Source Fool.com
