Cathie Wood buys $1.8 million of beaten-down tech stock
In 2024, The Nasdaq Composite gained 30%, while Ark Innovation ETF returned 8.4%.
Ark Investment Administration's chief, Cathie Wood, every so repeatedly makes a speciality of technology shares, making a wager on their disruptive potential within the long bustle. She likes to aquire them when the costs descend.
That’s what she did this week, in insist procuring a tech stock that has given up in the case of 20% year-to-date.
Wood’s flagship fund, Ark Innovation ETF (ARKK) , underperformed the market in 2024.
Even supposing it outpaced the S&P 500 and Nasdaq Composite in January and early February, ARKK is down larger than 2% year-to-date as of Feb. 25, while the Nasdaq Composite and S&P 500 comprise returned -1.3% and 1.2%, respectively.
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