ARK boss Cathie Wood lives up to her reputation for daring bets.
The renewed stock market slump from the beginning of the week Cathie Wood with her American fund company ARK Investment Management for massive acquisitions.
How from the agency «Bloomberg» (article subject to payment) According to data collected, Wood’s company’s eight exchange-traded funds (ETFs) have invested in 27 different positions; this while the US tech index experienced its worst sell-off since the March 2020 coronavirus crash. ARK made most of its acquisitions in titles from the Roku streaming service.
Earned a lot, lost a lot
With the acquisitions, Wood once again lives up to her reputation for daring bets. The American is one of the earliest fans of the electric car manufacturer Tesla and has made a lot of money for her investors with its shares and other tech stocks. Since then, supporters have referred to her as the “world‘s greatest investor”. However, the turnaround in interest rates and the associated sell-off of “hot” Nasdaq stocks have caused massive losses and criticism for the ARK-ETF. The firm’s flagship fund has lost more than half its value since the start of the year.
Wood didn’t lose his head over it, though. She took isolated profits and invested them in stocks that had already been penalized by the stock market. Using this tactic, it has now also bought the “dip” on the stock exchanges on a large scale.