Cathie Woods buys $13.4 million of tumbling tech stock
PositiveFinancial Markets
- Cathie Wood's ARK Investment Management has made significant investments in Robinhood, acquiring 124,427 shares valued at nearly $16.9 million on December 11, followed by an additional 108,557 shares worth $13.4 million on December 12, amidst a downturn in the stock's performance.
- This strategic move highlights Wood's confidence in Robinhood's potential for recovery and growth, as she capitalizes on the stock's recent decline, viewing it as an opportunity to strengthen her portfolio in the tech sector.
- The investment reflects a broader trend of ARK's active portfolio management, as the firm has been adjusting its holdings by selling shares in other companies like Tesla and AMD while investing in emerging technologies and financial services, indicating a dynamic approach to market fluctuations.
— via World Pulse Now AI Editorial System