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 Investment Management, often makes big bets on her target tech stocks.
Sometimes, she’ll buy them on the way down, hoping for a bargain. And sometimes she’ll even acquire them on the way up. That’s what she has done this week–she bought a rallying tech stock for four consecutive trading sessions.
Despite underperforming the market in 2024, her strategy is proving effective so far in 2025:
The flagship Ark Innovation ETF (ARKK) has returned 18% this year as of Feb. 14, easily surpassing the S&P 500 Index and the Nasdaq Composite, which have gained roughly 4% and 3.7%, respectively.
