Tesla investor Cathie Wood says she's been selling Nvidia stock for some time: 'It has become a check-the-box stock'

Cathie Wood, the head of Ark Invest, has been selling Nvidia stock, citing overvaluation as the reason. She referred to Nvidia as a "check-the-box stock" and expressed concerns that expectations for the company could be outpacing reality. Wood's investment fund has sold over $4.5 million worth of Nvidia stock this year.

Despite Nvidia's market capitalization surpassing Amazon's and Alphabet's last week, reaching $1.8 trillion, Wood anticipates an inventory correction due to "hyperactivity" surrounding the stock. She acknowledged Nvidia's role in creating the AI age but warned of potential over-ordering leading to an inventory correction.

Key takeaways

Cathie Wood of Ark Invest has been selling Nvidia stock due to concerns of overvaluation.
Wood referred to Nvidia as a 'check-the-box stock' and expressed concerns that expectations for the company could be getting ahead of themselves.
Nvidia's market capitalization recently surpassed that of Amazon and Alphabet, reaching $1.8 trillion.
Despite the sell-off, some analysts believe Nvidia's valuation could continue to surge if AI is indeed the next industrial revolution.

Tesla investor Cathie Wood says she's been selling Nvidia stock for some time: 'It has become a check-the-box stock'

Key takeaways

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