Cathie Wood buys $12 million of surging China tech stock
The Ark Innovation ETF is down 17% year-to-date.
Cathie Wooden, the head of Ark Funding Administration, in general specializes in U.S. tech shares.
Often, she additionally sees alternatives out of doorways the U.S., with one of her best targets overseas being China, the 2d best financial system on the earth.
That modified into what she did last week. She provided $12 million shares of a Chinese language tech inventory.
Wooden’s flagship fund, the Ark Innovation ETF (ARKK) , is down 17.41% 365 days-to-date as of March 31, while the Nasdaq Composite and S&P 500 lost 10.42% and 4.59% at some level of the the same period, respectively.
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