Ark Invest purchased shares of CoreWeave, Amazon, and Rocket Lab as prices rose, targeting stocks trading below 52-week highs.
Ark Invest CEO Cathie Wood added to positions in CoreWeave (CRWV), Amazon (AMZN), and Rocket Lab (RKLB) on Monday, despite shares rising 19%, 5%, and 8%, respectively. The purchases occurred during a strong market session, the best first day of the month since late 2022.
CoreWeave and Rocket Lab remain 44% and 53% below their 52-week highs, while Amazon reached a new peak. CoreWeave, which went public at $40 last year, reported 112% revenue growth in its latest quarter but posted a larger-than-expected loss, disappointing investors.
The moves reflect Ark Invest’s strategy of buying stocks during pullbacks, particularly in high-growth sectors like AI and cloud computing.