Cathie Wood Bought Cerebras Systems Stock the Same Week the AI Chip Startup's Shares Fell More Than 58% From Their First-Day IPO Pop
The company's stock took quite a body blow after it reported first-quarter earnings.
Overview
One of the hottest IPOs of the year cooled considerably after publishing its first earnings report as a publicly traded company. Cathie Wood's Ark Invest pounced on the stock's weakness to bolster its position.
I'm talking about Cerebras Systems (NASDAQ: CBRS), the unique artificial intelligence (AI) hardware company that had a splashy market debut in May. Initially greeted as The Next Big AI Stock, Cerebras shares have retreated from that early hype and hope. Here's a glance at Ark's buy-ins of this unique tech company, with a sharp look at those post-earnings transactions.
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Originally published at www.fool.com.
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