Is Cathie Wood Selling Netflix Stock at the Worst Possible Time?
One of the market's hottest stock pickers is cooling on Netflix (NASDAQ: NFLX) these days. It could prove to be a costly mistake.
ARK Invest's Cathie Wood has been trimming her stake in the world's leading service for premium streaming video. She has sold Netflix shares in ARK Next Generation Internet ETF (NYSEMKT: ARKW) four times over the past five weeks.
The exchange-traded fund has been one of the market's biggest winners, up a scintillating 183% through the past four quarters. It's true that owning Netflix has actually held Wood's high-flying ETF back. Reed Hastings' company only gained 39% in that time. However, history favors those who are long Netflix.
Source Fool.com
