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Cathie Wood sells $40.6 million of popular semiconductor stock

Cathie Wood, chief of Ark Investment Management, is known for actively trading her holdings, sometimes selling stocks during sharp market pullbacks. Semiconductor stocks experienced a major market pullback on May 15, with the iShares Semiconductor ETF (SOXX) dropping roughly 4%. Amid that sell-off, Wood sold millions of dollars worth of shares in one chipmaker company.

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5-star analyst resets Nvidia stock price target ahead of earnings

Nvidia (NVDA) stock closed the May 15 trading session 4.42% down at $225.32, according to Yahoo Finance. Other semiconductor stocks also dipped: Micron closed 6.62% lower at $724.66 Intel closed 6.18% lower at $108.77 AMD closed 5.69% lower at $424.1 Broadcom closed 3.32% lower at $425.19 Marvell closed 3.12% lower at $176.89 The stocks started

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