Cathie Wood’s Recent Stock Purchases
Cathie Wood, CEO of Ark Invest, is capitalizing on recent declines in the AI and technology sectors by buying shares of Space Exploration Technologies (NASDAQ: SPCX) and CoreWeave (NASDAQ: CRWV). Both stocks have dropped over 30% in the past month. On July 17, 2023, Wood added to her stakes in these companies amid a broader downturn in the tech market.
SpaceX closed at $123.99 on July 17, down from its IPO price of $135 and facing challenges related to its significant investments in AI. CoreWeave, known for providing cloud access tailored for AI workloads, is the 16th largest holding in the Ark Next Generation Internet fund. Both companies carry risks but may represent long-term opportunities for aggressive investors.
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