Cathie Wood's Ark Invest Is Selling Nvidia Stock and Buying This Artificial Intelligence (AI) Stock
Cathie Wood is the CEO and chief investment officer at Ark Invest, an asset management firm focused on disruptive innovation. Wood and her team manage several thematic index funds that offer exposure to technologies like artificial intelligence (AI).
Ark sold down its position in Nvidia throughout February, and the selling has continued in March. That may strike readers as strange given that Nvidia chips are the gold standard in AI infrastructure. But Nvidia shares have soared 260% over the past year, so it appears Ark is taking profits and reinvesting capital into other AI companies.
For instance, Wood and her team have been buying shares of (NASDAQ: TSLA) in March. Here's what investors should know about the electric carmaker.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 248 € shows a very positive potential of 58.51% compared to the current price of 156.46 € for Tesla Inc.
