"Is This the Start of a Major Crash?" Cathie Wood Sells Off Billions in Nvidia, Meta Again

Three Major Ark Invest ETFs
Meta Shares Worth 63.3 Billion Won Sold

Ark Invest, led by Cathie Wood—popularly known among Korean investors as "Money Tree Sister"—has sold off a significant amount of major big tech stocks, including Nvidia and Meta.

According to U.S. financial media outlets such as Benzinga on March 27 (local time), Ark Invest executed large-scale sales of major technology stocks worth several million dollars across three flagship actively managed ETFs: the ARK Blockchain & Fintech Innovation ETF, the ARK Innovation ETF, and the ARK Next Generation Internet ETF.

The largest sale was Meta Platforms, with Ark Invest offloading 76,622 shares. Based on the closing price of $547.54 (approximately 820,000 won) per share, the transaction was valued at around $42 million (about 6.33 billion won). The firm also sold 154,441 shares of Nvidia, with the total sale amounting to approximately $26.6 million (about 3.89 billion won) at the closing price of $171.24 per share.

In addition, Ark Invest sold 38,245 shares of AMD (about $7.8 million), 15,696 shares of TSMC (about $5.1 million), and 8,648 shares of Broadcom. Through ARKK and ARKW, the firm disposed of Alphabet Class C shares worth approximately $2.5 million, and also sold 6,775 shares of Netflix (about $630,000).

This large-scale sell-off took place amid multiple negative developments for tech stocks. Meta lost two lawsuits related to social networking service (SNS) addiction and, along with Google, received a combined verdict of $6 million (about 900 million won) in damages. If the verdict is finalized, similar lawsuits may follow.

Cathie Wood, CEO of Ark Invest. Cathie Wood X Capture

Nvidia has continued to decline due to ongoing concerns about the prolonged war with Iran, rising oil prices, and subsequent sell-offs in semiconductor stocks. Furthermore, after Google unveiled its AI technology "Turbo Quant," which reportedly reduces memory usage to one-sixth of current levels, concerns about decreased memory demand surfaced, leading to a 4.16% plunge in Nvidia's stock price on March 26 (local time).

AMD has experienced increased stock price volatility due to a combination of rising prices and processor shortages. TSMC is facing supply bottleneck concerns amid warnings that its production capacity has reached its limit. Netflix recently announced a subscription fee hike, citing content expansion and entry into new business sectors as reasons.

Meanwhile, as of March 25, Ark Invest's flagship ETF, the ARK Innovation ETF, was down 9.13% year-to-date, recording a negative return.

This content was produced with the assistance of AI translation services.