With its investment style, the tech investor is benefiting from the lower interest rate expectations.
(Photo: Reuters)
Dusseldorf Tech investor Cathie Wood is currently on a shopping spree. In March, she bought about $180 million worth of new shares with her flagship fund, ARK Innovation ETF (ARKK), twice as many as in February. This emerges from reports from Wood’s investment house Ark Invest, which the Handelsblatt has evaluated.
The 67-year-old is one of the most prominent tech investors and is known for her extreme investment style. It invests exclusively in companies developing disruptive technologies. These stocks tumbled last year because most of them aren’t yet making profits, prompting criticism for Wood.
Now the mood has changed again. Tech stocks are benefiting from lower interest rate expectations, with the ARKK up nearly 30 percent year-to-date. However, Wood obviously sees further potential, and bought heavily in March – especially in two stocks that have had bad news recently.
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