Cathie Wood Buys Alibaba After Four Years in China Comeback

Cathie Wood’s funds reopened positions in Alibaba Group Holding Ltd. for the first time in four years, just as the stock rallied to a multiyear high on optimism over the Chinese firm’s push in artificial intelligence.

A daily trading report from Wood’s Ark Investment Management showed that two of the firm’s exchange-traded funds snapped up American Depositary Receipts of Alibaba on Monday. The stakes are worth about $16.3 million in total, according to the funds’ holdings reports.