Cathie Wood buys $37 million of surging tech stock
In 2024, The Nasdaq Composite gained 30%, while Ark Innovation ETF returned 8.4%.
Cathie Wood, chief of Ark Funding Administration, continuously makes big bets on her target tech stocks.
Generally, she’ll aquire them on the methodology down, hoping for a bargain. And usually she’ll even receive them on the methodology up. That’s what she has accomplished this week–she purchased a rallying tech stock for four consecutive trading classes.
Despite underperforming the market in 2024, her approach is proving efficient so a ways in 2025:
The flagship Ark Innovation ETF (ARKK) has returned 18% this year as of Feb. 14, without command surpassing the S&P 500 Index and the Nasdaq Composite, which contain gained roughly 4% and 3.7%, respectively.
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