Cathie Wood buys $13.8 million of tumbling tech stock

One of Cathie Wood’s signature moves is buying stocks when they pull back, looking for names she believes will recover over time. The CEO of Ark Investment Management followed that playbook again in the past week, picking up a tech stock that dropped 16.3% over the last five trading days. Wood’s investment strategy has worked well this year, with her funds outpacing the major market indexes. As of Nov. 7, the flagship Ark Innovation ETF (ARKK) is up about 40% year-to-date, far outpacing the S&P 500’s gai ...