Cathie Wood, chief of Ark Investment Management, often buys tech stocks during selloffs, betting on their long-term growth potential. That’s what she just did with CoreWeave (CRWV), buying about $11. 8 million worth of shares as the AI cloud computing company’s stock plunged amid growing concerns over its debt. Last year, her flagship Ark Innovation ETF gained 35. 49%, far outpacing the S&P 500’s return of 17. 88% in the same period. Wood gained a reputation after Ark Innovation ETF delivered a rosy 153% return in 2020.
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