Cathie Wood, chief of Ark Investment Management, sold $28 million of a popular AI stock as part of her strategy to adjust positions based on market conditions and stock performance. Her funds have seen volatility, with strong gains in early 2021 followed by a decline due to market concerns. However, the flagship Ark Innovation ETF is up 29.7% year-to-date. Wood’s investment strategy focuses on emerging high-tech companies, leading to major fluctuations in Ark funds’ values. Despite recent outflows, she remains bullish on tech stocks. Wood recently sold shares of Palantir as the stock reached record highs post-earnings, reflecting a strategy to take profits.

Read more at Yahoo Finance: Cathie Wood sells $28 million of popular AI stock