ARK Invest Doubles Down on High Conviction Names Amid Market Volatility

Cathie Wood's ARK Invest continued its buying spree of Bullish shares for the tenth consecutive day, purchasing over 74,000 shares on Thursday. This move adds to the company's total investment in Bullish, which now stands at around $60 million based on the stock's closing price each day.

According to Wood, ARK Invest is focusing on 'high conviction names' across AI, robotics, energy storage, and blockchain technology. She stated that traditional players are following algorithmic moves and focusing on cash-rich stocks, while her team is taking a more active approach.

Wood also expressed concerns about the Federal Reserve's policies under Jerome Powell, calling him the 'biggest risk' facing markets right now. She warned that policymakers may be misreading economic signals and relying on backward-looking data, which could lead to a negative response to market conditions.