Cathie Wood, head of Ark Investment Management, is known for making bold bets — but she’s not afraid to change course when the market proves her wrong. That’s what she did this week. She unloaded a tech stock that tumbled nearly 50% last year.

Legendary fund manager Cathie Wood has shifted her portfolio for the new year with evolving strategies. This week, it was reported that the head of ARK Invest offloaded an artificial intelligence (AI) stock that had lost more than 40% of its portfolio value.