Cathie Wood buys tech shares for 105 million

Dusseldorf Despite the ongoing correction in tech stocks, Cathie Wood remains true to her strategy: In June, the US investor bought shares in growth companies worth 105 million dollars with her flagship fund ARKK. This emerges from the publications of the investment house Ark Invest, which the Handelsblatt has evaluated.

Wood is known for her extreme investment style: She only invests in disruptive companies, such as genomics, fintech, space and robotics. However, many of these companies are still making losses: According to data from the financial service Refinitiv, 26 of the 35 companies in the ARKK are making a loss over a twelve-month period.

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Following the rally of recent years, these stocks are being punished by rising interest rates in the current stock market environment. Since the beginning of the year, the ARKK has lost 56 percent of its value. Compared to the record high of February 2021, it is almost 75 percent.