Cathie Wood's ARK Invest buys growth stocks after selloff

CreateAl Holdings

14/09/2022 17:20

** Cathie Wood's ARK Invest took advantage of Tuesday's
pullback to load up on growth stocks, including buying more than
200,000 shares of Roku Inc  ROKU.O  and Zoom Video
Communications  ZM.O 
    ** The asset manager also bought shares of software firm
Twilio  TWLO.O , cancer diagnostics company Exact Sciences
 EXAS.O  and autonomous technology company TuSimple  TSP.O 
    ** Wood's flagship fund ARK Innovation ETF  ARKK.P  rises 2%
on Wednesday after a sharp selloff in growth stocks a day
earlier sent the Nasdaq  .IXIC  to its worst session in two
years  .N 
    ** Wood on Tuesday also cautioned that the Fed is making a
mistake with its widely-expected interest rate hikes to bring
down high inflation and said she is more concerned about
deflation  urn:newsml:reuters.com:*:nL1N30K1TN
    ** ARKK down 54% this year as stock markets take a hit from
the Federal Reserve's rapid pace of monetary policy tightening
    ** ARKK's assets under management have more than halved from
a year ago to about $8 mln at the end of August, according to
Refinitiv Lipper data

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))