Cathie Wood Exits Zoom Investment After Massive Losses, Shares Surge 12%

Cathie Wood has officially exited her entire position in Zoom stock, which at its peak represented 11% of her fund. Wood’s average purchase price for Zoom shares was $280 per share, but the investment ultimately led to substantial losses for her investors, amounting to hundreds of millions of dollars. Despite her exit, Zoom’s shares surged 12% today.

At the height of her fund’s performance in February 2021, it managed $50 billion in assets. However, by May 2022, the fund’s assets had plummeted to $15.9 billion due to a series of poor investment outcomes. Currently, Cathie Wood’s fund holds 190 different stocks with assets under management standing at $11.27 billion.

Her largest holding is Tesla, with 5.31 million shares valued at $1.05 billion. Other notable positions include Coinbase, with 3.56 million shares valued at $790.85 million, and Roku, with 12.72 million shares valued at $762.10 million.