Cathie Wood’s Ark Invest Offloads More Zillow Shares Amid Housing Market Warning

 Cathie Wood’s Ark Invest Offloads More Zillow Shares Amid Housing Market Warning

Topline

Famed stock picker Cathie Wood of Ark Invest recently sold nearly all of the remaining Zillow shares in her main fund, warning that the digital real estate platform’s recent struggles could be a sign of trouble ahead in the housing market.

Key Facts

The founder and CEO of $60 billion (assets) Ark invest sold just over 31,000 shares of Zillow from her Ark Innovation ETF on Wednesday.

Her flagship fund now holds fewer than 1,000 shares of Zillow, just weeks after owning just over 7 million shares worth roughly $600 million at the beginning of the month.

Wood had initially bought the dip in Zillow after the company’s lackluster quarterly earnings on November 3—adding over 200,000 shares to…

Read full article…www.forbes.com