On a recent trading day, the U.S. stock market experienced a significant downturn. In response, Cathie Wood's ARK Investment seized the opportunity to invest heavily in several technology-related stocks, spending over $75 million. Among the notable acquisitions, ARK purchased 79,318 shares of Tesla (TSLA, Financial) for approximately $20.83 million. The firm also acquired 64,358 shares of Coinbase (COIN) totaling $13.99 million.
In addition to Tesla and Coinbase, ARK bolstered its holdings with 147,551 shares of Advanced Micro Devices (AMD), amounting to around $14.80 million. They further invested in 485,005 shares of Beam Therapeutics (BEAM), with an investment of $13.81 million, and added 269,864 shares of Robinhood Markets (HOOD) for $11.99 million.
Cathie Wood has expressed her belief that the current market volatility marks the final phase of a rolling recession. She anticipates that the United States will experience a deflationary boom later this year.
