AI Summary
Cathie Wood's Ark Investment Management sold $11.7 million worth of AMD stock this week, demonstrating that even her most confident AI-related positions are subject to profit-taking. The move reflects broader market pressure on semiconductor stocks despite Wood's established track record of backing artificial intelligence companies.
Cathie Wood, head of Ark Investment Management, has built a reputation for backing artificial intelligence stocks. But even her highest-conviction holdings aren't immune to profit-taking.That's exactly what she's doing with AMD this week, selling more shares after the chipmaker's recent…
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