Cathie Wood dumps $8.46 million in software giant

Group 1 - Cathie Wood's ARK Invest has aggressively rebalanced its portfolio, notably selling nearly 855,000 shares of GitLab, including a significant sale of 208,528 shares worth approximately $8.5 million on November 28 [1][5] - The firm also reduced positions in Iridium, Ibotta, and Exact Sciences while increasing investments in its Bitcoin ETFs, indicating a strategic shift towards cryptocurrency [2][6] - Wood's bullish forecast for Bitcoin, predicting a price range of $1.2 to $1.5 million by 2030, is driving the increased focus on crypto investments [3] Group 2 - GitLab's stock has declined over 27% year-to-date, contrasting with the broader tech sector's positive performance, raising questions about the stock's recent downturn despite its strong product offering [7][8] - The company's challenges in 2025 have contributed to Wood's decision to trim her holdings, reflecting a cautious approach to stocks with cooling momentum [4][9]