Cathie Wood buys $10.7 million of sinking AI stock

Cathie Wood, head of Ark Investment Management, targets "disruptive" tech companies and actively manages her positions. She often adds shares when prices fall and trims positions when they rise. Recently, she made a notable purchase of an AI stock during a pullback. Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020. Last year, the flagship Ark Innovation ETF (ARKK) gained 35.49%, far outpacing the S&P 500’s return of 17.88% in the same period. Wood’s style brings swee ...