Cathie Wood Goes on Dip-Buying on Tech Spree as ARKK Hits 2024 Lows

Flagship fund buys Amazon, AMD, Roku amid market selloff
ARKK fund has declined more than 20% since the start of 2024

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By Vildana Hajric

August 7, 2024 at 5:08 PM EDT

This article is for subscribers only.

Cathie Wood scooped up shares of tech firms caught in crushing market rout, just as her flagship fund sank to a new 2024 low.

Wood’s ARK Innovation ETF (ticker ARKK) bought Amazon.com Inc., Advanced Micro Devices Inc. and Roku Inc., among others, stepping in amid a broad downdraft that spurred steep losses for many tech stocks. A fintech-focused fund of her firm Ark Investment Management also added Reddit Inc. and Meta Platforms Inc., according to tabulations put out by the firm on a daily basis.