Cathie Wood doesn’t shy away from fire sales as the CEO of Ark Invest.
On Friday, her family of aggressive growth ETFs added to existing stakes in CoreWeave (NASDAQ: CRWV), Cloudflare (NYSE: NET), and Toast (NYSE: TOST), which declined 14%, 24%, and 11%, respectively
It was not a good day for those investors. Let’s see why Wood is buying at a time when the overall market was going the other way. 1. CoreWeave CoreWeave stock tumbled 11% on Friday, after following up mixed financial results with problematic top-line guidance.
The hyperscaler is posting explosive growth as the AI revolution clamors for high-performance, low-latency GPU computing infrastructure solutions that CoreWeave excels at providing. Revenue rose 112% to $2.078 billion through the first three months of this year. Analysts were holding out for a 101% top-line jump.