Cathie Wood Ditched Virgin Galactic Stock Right Before It Surged By Bloomberg
(Bloomberg) -- Cathie Wood has just missed out on a blistering rally in Virgin Galactic Holdings (NYSE:SPCE), 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 last three days -- culminating in a 28% surge on Monday -- her firm Ark Investment Management slashed its remaining stake to just 45 shares, according to data compiled by Bloomberg. The money manager has been gradually selling from May, after Richard Branson’s space-travel company plunged on technical issues and rising competition from rivals funded by...
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