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Technology stocks seem gloomy but Stock Queen Cathie Wood bet a differ
As U.S. Treasury yields are rising, U.S. stocks have diverged: The Dow Jones Index climbed on Monday because investors have entered the economic recovery phase after the Senate approved the new COVID-19 stimulus package, and the continued sell-off of soaring technology stocks brought the broader market. pressure.
The Dow Jones Index rose by 306.14 points to 31,802.44 points, an increase of 1%, and it rose by 650 points during the intraday session, setting a new intraday high. The Standard & Poor's 500 index closed down 0.5% to close at 3,821.35 points, an increase of 1%. The Nasdaq Composite Index fell 2.4% to 12609.16, Apple shares fell 4.2%, and Tesla shares fell 5.8%. Alphabet and Netflix's stock prices both fell more than 4%.
The Nasdaq, which is dominated by technology stocks, fell more than 10% from the high point at the close of trading on February 12 and entered a correction zone.
Stock Queen Cathie Wood is optimistic to the fall
Cathie Wood, the founder and chief executive officer of Ark Investment Management, known as the "women stock god", said that he is not worried about the fund's recent decline, and the bull market is expanding, and more investment strategies are being incorporated. , Such as value investment.
Wood added that over time, her disruptive strategy will pay off, and she is taking advantage of this sell-off, "Currently the market is expanding and we think the bull market is strengthening, which will benefit us in the long term."
Wood manages five ETFs that focus on "disruptive innovation." In this year alone, these ETFs have attracted more than $15 billion in investor funds. Ark’s flagship fund, the Ark Innovation Fund (ARKK), has accelerated the trend of innovation in the 2020 pandemic, with a return rate of close to 150%, and now has a net worth of more than $17 billion. However, ARKK has fallen by about 8% this year. Under the pressure of rising interest rates, technology stocks have recently weakened.
Wood said that in the sell-off, "we got a huge opportunity" to buy pure investment projects in the fund. "When we have this opportunity to invest in pure companies, rather than more mature companies... we will return to pure competition." She added: "During this sell-off, we have become more and more interested in our investment portfolio. The more optimistic."
She sees the recent weakness in technology stocks as an opportunity. According to information disclosed by the company, Wood has bought large amounts of Tesla, Teladoc, Zoom Video and Palantir. Ark Innovation also recently purchased additional shares in companies such as Square, Roku, Zillow, and Shopify.
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