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Cathie Wood’s Power in Some Stocks Is Even Bigger Than It Seems

  • Ark, Nikko Asset Management own at least 25% of three firms
  • Outflows could ripple through heavily concentrated securities
Bloomberg business news
ARK Buying 'A Lot of Tesla' After Recent Tumble: Cathie Wood

A rough week for Cathie Wood is reminding Wall Street that Ark Investment Management has a lot of cash in not that many companies. In fact, the firm’s dominance in some stocks may be even greater than it seems.

Ark now owns more than 10% of at least 29 companies via its exchange-traded funds, up from 24 just two weeks ago, according to data compiled by Bloomberg.