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Cathie Wood's ARK Invest Makes Bold Moves Amid Market Downturn

Wood's firm significantly buys Amazon, Tesla, and Coinbase while offloading Block and Zoom shares.

Overview

  • ARK Invest purchases $28 million in Amazon shares and $17.78 million in Coinbase shares.
  • The firm also acquires substantial stakes in Tesla, Meta, Robinhood, and AMD.
  • Wood's strategy includes buying during market lows to capitalize on reduced stock prices.
  • ARK Invest sells $26 million worth of Block shares and reduces holdings in Zoom and UiPath.
  • Market volatility sees mixed results for Wood's portfolio, with some stocks rebounding and others declining.