Misfire for Cathie Wood after selling Virgin Galactic stock just before it soared
Virgin Galactic remains more than 50% down from records, but in less than two weeks it had rallied 73% thanks to a successful test flight
25 May 2021 - 16:40
Cathie Wood has just missed out on a blistering rally in Virgin Galactic, in a rare misstep for one of Wall Street’s biggest proponents of futuristic technologies.
As Virgin Galactic’s dramatic rebound gathered pace in the three days to the end of Monday — culminating in a 28% surge — her firm, Ark Investment Management, slashed its remaining stake to just 45 shares, according to data compiled by Bloomberg...
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