Cathie Wood: I bought Nvidia stock at $4 and sold it because I wanted to research other companies

In a video interview at the Greenwich Economic Forum in Hong Kong, Ark Investment Management CEO Cathie Wood explained why Nvidia shares were sold at $400. She revealed that Ark initially bought Nvidia shares at about $4 in 2014, and the ARK Innovation ETF held the stock until its price reached around $400, and sold most of the shares before Nvidia's rapid rise last year. Explaining the reasons behind the reduction of Nvidia shares, Cathie Wood said: "If Nvidia continues to operate like this, then the only reason it can do so is to benefit a lot of other companies, so we started looking at what those 'other companies' might be. We did exit, and I think it's a bit like a statement." (coinedition)