The star investor likes to sell positions that are doing well in order to top up other positions in the event of setbacks.
(Photo: Bloomberg)
Dusseldorf The past trading days have been turbulent. The impending collapse of the Chinese real estate giant Evergrande unsettled the markets, many investors sold their shares: the US benchmark index S&P 500 lost a total of 2.6 percent in value on Friday and Monday, the tech index Nasdaq 100 fell 3.2 percent. Star investor Cathie Wood took a different approach: she used the price setback to buy.
With the six actively managed ETFs of her investment company ARK, Wood hit seven stocks in particular from Friday to Tuesday:
- $ 48 million for shares in the Coinbase crypto exchange
- $ 43 million for shares in video conferencing service Zoom
- $ 43 million for papers from software company Uipath
- $ 40 million for shares in television supplier Roku
- $ 37 million for shares in Robinhood trading app
- $ 26 million for Wood shares in telemedicine company Teladoc Health
- $ 12 million for shares in Signify Health
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