Cathie Wood, chief of Ark Investment Management, is known for making quick moves in her favorite tech stocks. This week, she reversed course on CoreWeave (CRWV), buying $19.2 million of the AI stock just days after selling shares. Last year, the flagship Ark Innovation ETF gained 35.49%, far outpacing the S&P 500's return of 17.88% in the same period. So far this year, Wood's flagship Ark Innovation ETF (ARKK) is up 14.04% as of writing, while the S&P 500 surged 11.38%, Yahoo Finance data shows. Wood gained a reputation after the Ark Innovation ETF delivered a rosy 153% return in 2020. But her style also brings painful losses in bearish markets, as seen in 2022, when the ETF tumbled more than 60%. Those swings have weighed on Wood's long-term gains.
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