Reported 2 months ago
Cathie Wood, head of Ark Investment Management, has made a significant move by purchasing $59 million in beleaguered tech stocks amid a downturn in the market, particularly in the Nasdaq, which has dropped by 10% since July 10. Wood's strategy focuses on acquiring young technology companies, such as Amazon and Roku, while her Ark Innovation ETF has faced challenges with negative long-term performance. Despite criticisms from analysts regarding the ETF's ability to manage risks, Wood remains optimistic about the transformative potential of her tech investments.
Source: YAHOO