Cathie Wood buys $27 million of tumbling AI stock
In 2024, The Nasdaq Composite gained 30%, while Ark Innovation ETF returned 8.4%.
Cathie Wood, chief of Ark Funding Management, continually seizes the 2nd to buy her favorite stock when the costs descend.
That’s what she did this week–she purchased a stock that has plunged almost 30% within the previous five days.
Wood’s flagship fund, the Ark Innovation ETF ARKK, underperformed the market in 2024.
Even supposing it snappy outpaced the S&P 500 and Nasdaq Composite in January and early February, (ARKK) is down bigger than 2% year-to-date as of Feb. 25, while the Nasdaq Composite and S&P 500 possess returned -1.3% and 1.2%, respectively.
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