Cathie Wood strongly disputes Jack Dorsey’s ‘hyperinflation’ warning, but they agree on one asset class — in any market environment
The flagship fund of Cathie Wood’s Ark Invest, the Ark Innovation ETF , sold most of its remaining stake in online real estate firm Zillow , according to the firm’s disclosures. On Friday, the fund sold $37.8 million worth of shares in Zillow, which recently exited the so-called iBuying market after sustaining losses on its home flipping activities. Friday’s sale reduced the Ark position by 54%. Since the beginning of the month, Ark’s Zillow position has dropped to roughly 500,000 shares from 6.