Cathie Wood Watch: Ark Snaps Up Battered Shares of Tesla, Coinbase

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By Dan Weil Wood’s flagship Ark Innovation ETF has lost 63% year to date and has tumbled 78% from its February 2021 peak. The prominent money manager Cathie Wood, chief executive of Ark Investment Management, is doing what she does: buying depressed shares of her favorite companies. Ark funds on Wednesday purchased shares of electric-car giant Tesla (TSLA) – Get Free Report and Coinbase Global (COIN) – Get Free Report, the largest U.S. cryptocurrency exchange. The purchases add to Ark’s acquisitions of the stocks in recent months. Tesla is the No. 3 holding and Coinbase is No. 14 in Wood’s fla…

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