Cathie Wood buys $8 million of tumbling tech stock
The Ark Innovation ETF is down 7% year-to-date.
Cathie Wooden, head of Ark Funding Administration, doesn't apprehension when the costs of her favorite tech shares tumble. She in actuality buys the dip.
And the prominent asset supervisor just provided into a tech stock that has lost virtually a quarter of its market price over the final month.
Wooden’s flagship fund, Ark Innovation ETF (ARKK) , underperformed the market in 2024.
Even though it temporarily outpaced the Nasdaq Composite and the S&P 500 in January and early February, ARKK is down bigger than 7% one year-to-date as of March 5. The Nasdaq Composite and S&P lost 5% and 1.4% respectively throughout the same interval.
The fund’s most traditional struggles stem largely from Tesla's (TSLA) 32% decline this one year, its greatest maintaining.
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