Ark Invest purchased shares of three NASDAQ-listed firms after recent declines, targeting growth stocks at lower valuations.
Ark Invest acquired additional shares of CoreWeave, SpaceX, and X-Energy on Tuesday, following declines of 3%, 7%, and 10%, respectively. The purchases come as Cathie Wood’s firm seeks opportunities amid market pressure on high-growth stocks.
CoreWeave, which went public at $40 a share 16 months ago, has seen its stock drop 48% from its peak a year ago but remains up over 100% from its IPO price. SpaceX and X-Energy, both tied to high-growth sectors, also faced downward pressure before the buy.
The moves reflect Ark’s strategy of accumulating positions in companies with long-term potential despite short-term volatility. No immediate market reaction was reported following the trades.