Cathie Wood’s Ark ETFs recently purchased a significant amount of Moderna stock following a major selloff. The move comes after the biotech company experienced a record drop in its stock price. Wood’s Ark ETFs are known for making strategic investments in innovative and high-growth companies, and Moderna’s cutting-edge technology in the healthcare sector likely caught their attention.
Despite the recent sell-off, Wood and her team saw an opportunity to buy into Moderna at a discounted price. This move suggests their confidence in the company’s long-term potential and ability to bounce back from the recent downturn.
Wood’s Ark ETFs have a track record of success in identifying promising companies early on, and their investment in Moderna reflects their belief in the company’s future growth prospects. This strategic move highlights Wood’s ability to capitalize on market fluctuations and make timely investment decisions to benefit her ETFs and their investors.