Cathie Wood Reverses Position by Buying $19.2 Million Worth of CoreWeave Stock
Cathie Wood, founder and chief investment officer at Ark Investment Management, recently reversed her position on CoreWeave (CRWV), purchasing $19.2 million worth of the AI-focused stock just three days after selling shares. The move highlights her active trading strategy in high-growth tech sectors like artificial intelligence. Despite past volatility that led to significant losses for investors during bear markets—most notably a 60% drop in her flagship Ark Innovation ETF (ARKK) in 2022—Wood remains bullish on AI and its long-term economic impact. CoreWeave, backed by Nvidia and serving major clients like Google and Microsoft, provides GPU-powered cloud infrastructure for AI workloads. Wood's recent purchase of over 239,083 shares at $80.2 per share underscores her belief in the company’s potential within a growing sector. However, ARKK has faced challenges recently, with roughly $1.55 billion in net outflows over the past year as some investors remain skeptical about its performance and strategy.
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Topics: AI stocks ARKK Cathie Wood CoreWeave (CRWV)