Cathie Wood sells $28.7 million of megacap tech stock
Cathie Wood's Ark Investment Management sold $28.7 million of Alphabet stock, while investing in Meta Platforms. Ark Innovation ETF (ARKK) gained 35.49% last year, but has a five-year annualized return of -6.89%. Wood remains bullish on AI, citing its potential to boost corporate profits and economic growth.






