ARK Innovation ETF (ARKK) rose 3.0% following recent portfolio activity by fund manager Cathie Wood. According to the provided sources, Wood made several stock purchases for the fund. ARK bought shares of DoorDash, Advanced Micro Devices (AMD), and Alphabet. Additionally, Wood invested approximately 25 million dollars in Figma following the company's earnings report, which featured AI-powered results. The sources indicate that Wood has identified artificial intelligence as the most disruptive innovation in history, which appears to be driving the fund's investment strategy. These purchases of technology and AI-related companies align with the fund's focus on innovation-driven equities.
Read full analysisARK Innovation ETF (ARKK) rose 3.0% following recent portfolio activity by fund manager Cathie Wood. According to the provided sources, Wood made several stock purchases for the fund. ARK bought shares of DoorDash, Advanced Micro Devices (AMD), and Alphabet. Additionally, Wood invested approximately 25 million dollars in Figma following the company's earnings report, which featured AI-powered results. The sources indicate that Wood has identified artificial intelligence as the most disruptive innovation in history, which appears to be driving the fund's investment strategy. These purchases of technology and AI-related companies align with the fund's focus on innovation-driven equities.
ARK Innovation ETF is Cathie Wood's flagship actively managed fund focused on disruptive innovation themes including AI, genomics, fintech, and autonomous technology. The fund's high-conviction, concentrated bets on growth stocks make it significantly more volatile than broad indices — its recent daily swings have ranged from +6% to -3% — and its high-beta profile means it typically amplifies broad market moves in both directions, as seen in today's rebound following Monday's selloff.