Shine Trader Limited reports:
Cathie Wood, founder of Ark Investments, is known for buying on the downside of her favorite stocks, and the money manager known as the divinity of stocks did it again during Monday’s sell-off.
Ark Term Fund bought 404,020 shares of Robinhood and 96,251 shares of Coinbase on Monday, after both companies’ shares fell more than 5 percent. At Monday’s closing prices, the stakes were worth $16.4m and $22.8m, respectively.
Wood’s Ark Innovation ETF also bought 43,679 shares of Roku, valued at $13.8 million, and 54,479 shares of Zoom, valued at $15.3 million. Ark Next Generation Internet ETF bought 3,543 shares of Zillow, valued at $311,000.
While Wood’s fund was amazing last year, 2021 looks less rosy. Her flagship fund, the Ark Innovation ETF, is down slightly this year after rising nearly 140 per cent in 2020.
Others have noted ark’s 2021 weakness, and some skeptics are starting to use ark ETF as a contrarian indicator or simply short Wood’s fund.
But Wood is sticking to his stance that the long-term bullish case for U.S. stocks is strong. She said in an interview in August:
“I actually feel a little more comfortable when I see such negative sentiment, especially in terms of valuations and longer-term investments. I love bad news.”
Reprint indicated source：Shine Trader Limited Live information