Reported 2 months ago
Cathie Wood, the CEO of Ark Investment Management, recently purchased $28.5 million worth of Amazon shares, marking her first investment in the tech giant since June. This move comes as Amazon's stock price has decreased by 18% over the last month amid concerns about heavy capital spending in AI. Despite the recent volatility in Wood's Ark Innovation ETF, which has seen significant outflows, she remains optimistic about Amazon's future potential amidst its ongoing efficiency improvements.
Source: YAHOO