Cathie Wood’s ARK Investment Management LLC is snapping up more shares of largely unprofitable companies, doubling down on a bet that many traders and investors expect to be tested this year by rising interest rates.
Over the past two weeks, Ms. Wood’s flagship ARK Innovation exchange-traded fund has bought more than $400 million of high-growth stocks, including Roblox Corp. , Block Inc. and Robinhood Markets Inc. That’s according to the firm’s daily trading logs and stock-pricing data as of Friday. She says the companies, which span videogaming, digital payments, trading and other industries, have the potential to change the world.
