Cathie Wood Funds Buy Shares of Meta for First Time Since 2021
- They must find the stock attractive again, says Todd Sohn
- Tech stocks, including Meta, have surged so far this year
Cathie Wood
Photographer: Patrick T. Fallon/AFP/Getty ImagesThis article is for subscribers only.
Cathie Wood seems to be warming up to Meta Platforms Inc.
Two exchange-traded funds managed by Wood’s ARK Investment Management — her flagship ARK Innovation ETF (ticker ARKK) and the Ark Next Generation Internet ETF (ARKW) — scooped up shares of Meta, the company behind Facebook. A website that tracks ARK trades shows that a number of the firm’s ETFs last held shares of Facebook at the end of 2021, when the company still traded under the ticker FB.