Cathie Wood Just Keeps Buying Coinbase and Getting More Inflows
- ARK funds added shares of largest US crypto exchange amid rout
- Flagship ARKK fund’s third-worst drop was met with inflows
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After one of the most dramatic weeks yet for ARK Investment Management, Wall Street can no longer have any doubts: Cathie Wood is sticking with her strategy -- and investors are sticking with her.
The chances of both have been questioned this year as a selloff in speculative tech stocks laid waste to her future-focused exchange-traded funds. Wednesday was a particular low point, with the flagship ARK Innovation ETF (ticker ARKK) slumping 10% in its third-worst drop on record.