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Benzinga
Benzinga
Business
Rachit Vats

Cathie Wood Nearly Exits Netflix Stake, Also Sells $4M Shares In Rival Disney

Netflix Cathie Wood Disney Walt Disney Ark Invest NYSE Ark Investment Management NFLX Walt Disney Co

Cathie Wood-led Ark Investment Management on Thursday nearly shed all of its exposure in Netflix Inc (NASDAQ:NFLX) and also sold shares in rival entertainment giant Walt Disney Co (NYSE:DIS).

The popular money managing firm sold 2,171 shares — estimated to be worth $839,525— in Netflix on the day shares of the company closed 7.5% higher at $386.7 a share. The stock is down 35.3% year-to-date.

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