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Cathie Wood buys $30 million of under-the-radar AI stock


Published on 2024-12-13 11:41:10 - Yahoo Finance
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  • Cathie Wood's investment strategy is simple: Her ARK ETFs typically buy shares in emerging, high-tech companies in fields such as artificial intelligence, blockchain, DNA sequencing, energy storage, and robotics. Wood believes these companies will transform industries, but their volatility causes significant swings in ARK funds' values.

Cathie Wood, through her ARK Investment Management, has invested approximately $30 million in Tesla Inc. by purchasing 111,387 shares across three of her ETFs: ARK Innovation ETF, ARK Autonomous Technology & Robotics ETF, and ARK Next Generation Internet ETF. This move comes at a time when Tesla's stock has experienced a significant decline, dropping nearly 30% in the past month due to concerns over its valuation and Elon Musk's focus on Twitter. Despite these challenges, Wood remains a staunch supporter of Tesla, viewing it as a key player in the future of autonomous driving and electric vehicles. Her continued investment reflects her long-term belief in Tesla's potential, even as the broader market sentiment towards the company has turned cautious.

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