Investment

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Cathie Wood Stays Out of the Dip

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Buying stocks on the dip is a good way for investors to complete the traditional “buy low and sell high” circle. As stocks dip, investors can get in cheap, get out when the stock has an upswing, and make money. However, Cathie Wood of Ark Investment Management ($ARKK@US) stayed out of the dip on Thursday, choosing not to buy stocks on the decline. Tesla ($TSLA@US) was down more than 2%, enough to trigger a buy, but that didn’t happen. Coinbase ($COIN@US) closed more than 3% lower, but Ark didn’t buy. Other stocks on the dip included Block Inc ($SQ@US), Teladoc Health ($TDOC@US), and Zoom ($ZM@US), falling 2.7%, 9%, and 5.3% respectively. Instead, Ark bought into Stratasys Ltd ($SSYS@Isreal), Adaptive Biotechnologies ($ADPT@US), Codexis ($CDXS@Ireland), ATAI Life Sciences ($ATAI@Germany), and Joby Aviation ($JOBY@US). On the other side, Ark Invest sold more than 28,000 shares of Cellectis ($CLLS@France). At press time, the ARK Innovation ETF was down more than 3%, trading at $59.54.

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