Cathie Wood Invests $2.5 Million in Declining Megacap Tech Stock
Cathie Wood, head of Ark Investment Management, purchased $2.5 million worth of shares in a megacap tech stock that had fallen nearly 10% in a single day. This move aligns with her strategy of buying during market declines. The Ark Innovation ETF (ARKK) has underperformed the S&P 500 over the past five years, with a five-year annualized return of -8.47% compared to the S&P 500's 12.86%.
Tickers: $ARKK
Topics: ARKK Cathie Wood investment strategy market volatility stock purchases