ARK Invest Buys Amazon Shares as Stock Prices Drop

  • Cathie Wood’s ETFs bought Amazon stocks during recent tumble
  • ARK Innovation ETF, ARK Fintech Innovation ETF, and ARK Autonomous Technology & Robotics ETF also invested in Amazon
  • Amazon stock fell 18.5% since its record closing price on July 5
  • ARK Net Generation Internet ETF increased its stake in Amazon

Cathie Wood, the high-profile investor behind Ark Invest asset-management company and ETF sponsor, took advantage of Amazon’s recent stock decline to purchase shares for three of her funds. The flagship ARK Innovation ETF (ARKK) bought its first 122,498 shares of Amazon on Monday, followed by the ARK Fintech Innovation ETF (ARKF) and ARK Autonomous Technology & Robotics ETF (ARKQ). Meanwhile, the ARK Net Generation Internet ETF (ARKW) increased its existing stake in Amazon. Despite a 13.9% drop in three days, Amazon’s stock bounced back by 1.3% on Tuesday.

Factuality Level: 7
Factuality Justification: The article provides accurate and relevant information about Cathie Wood’s investment strategy in Amazon during a market downturn. It reports on the specific actions of her ETFs and their holdings without any sensationalism or opinion masquerading as fact.
Noise Level: 4
Noise Justification: The article provides relevant information about Cathie Wood’s investment strategy and her company’s recent purchases of Amazon shares despite the stock’s decline. It also includes specific details on the number of shares bought and their value. However, it lacks a broader analysis or contextualization of the market trends that may have contributed to Amazon’s dip.
Public Companies: Amazon.com Inc. (AMZN), Tesla (TSLA)
Private Companies: ARK Invest
Key People: Cathie Wood (CEO of ARK Invest)

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Financial Relevance: Yes
Financial Markets Impacted: Amazon’s stock
Financial Rating Justification: The article discusses Cathie Wood’s investment strategy and her company ARK Invest’s buying of Amazon shares during a dip in the stock price, which can impact financial markets and individual companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: No market move size mentioned.

Reported publicly: www.marketwatch.com