Cathie Wood Makes Big China Investment
Ark Invest made important trades with Alibaba, Baidu, Pony AI, and Oklo stocks.
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Ark Invest, managed by Cathie Wood, made several important stock trades on Monday. The company bought 99,090 Alibaba shares worth $16.3 million. Alibaba recently created a powerful processor to compete with Nvidia in China.
The stock performed very well, going up over 30% in 30 days. Ark also bought 21,245 Baidu shares for $2.90 million. Baidu is investing more in AI technology.
They bought 103,002 Pony AI shares for $2.1 million. Pony AI is working on self-driving cars in Singapore. However, Ark sold 54,936 Oklo shares for $7.70 million.
Oklo works with nuclear energy and reached its highest price this year.
Original Article
benzinga.comhttps://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/09/47809510/cathie-woods-china-bet-ark-drops-16-3-million-on-red-hot-alibaba-picks-up-baidu-and-po