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Why Cathie Wood’s ARK is snapping up shares in Roblox, Block and Robinhood
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Cathie Wood’s ARK Investment Management is snapping up more shares of largely unprofitable companies, doubling down on a bet that many traders and investors expect to be tested this year by rising interest rates.
Over the past two weeks, Wood’s flagship ARK Innovation exchange-traded fund has bought more than $400m of high-growth stocks, including Roblox, Block and Robinhood Markets. That’s according to the firm’s daily trading logs and stock-pricing data as of 11 February. She says the companies, which span video gaming,...
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