Cathie Wood Is Doubling Down on This AI Stock During the Sell-Off
CoreWeave has been tanking, but Cathie Wood is buying.
Overview
Cathie Wood, founder and CEO of Ark Invest, is loading up on an AI stock that the market has been dumping in recent weeks, CoreWeave (NASDAQ: CRWV).
Ark's largest exchange-traded fund (ETF), the ARK Innovation ETF (NYSEMKT: ARKK), has added more than 100,000 shares of CoreWeave in recent weeks. On July 8, Wood bought $811,600 worth of shares. That followed a $2 million purchase on July 7. Wood also purchased $6.5 million worth of shares on June 29, according to Cathie's Ark.
Details
ARKK now owns 1.6 million shares of CoreWeave, a roughly $146 million stake. It is the ETF's 17th-largest holding, making up 2.2% of the $6.5 billion portfolio.
Source
Originally published at www.fool.com.
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