Cathie Wood and her Ark Investment Management firm were at it again on Monday, spending nearly $18 million on Dow stocks Nvidia and Amazon.com even as the Dow Jones Industrial Average whipsawed throughout the day with the S&P 500 touching bear market territory.
Wood and Ark Invest purchased 151,979 shares of Nvidia stock for an estimated $14.84 million, according to the company's daily trade disclosure. The investment firm also spent an estimated $2.96 million on 16,881 shares of Amazon. Wood purchased 54,120 shares of Amazon stock on Friday for about $9.25 million.
Nvidia stock jumped as high as 105.85 before falling 1.4% to 96.30 during Tuesday's stock market action. Amazon stock dropped 2.6% to 170.66.
The Dow stocks ended Monday up 3.5% and 2.5%, respectively.
Ahead of what would become a fourth day of volatile trade driven by President Donald Trump's fast-evolving tariff plans, Trump on Truth Social touted a "great call" with the acting president of South Korea on tariffs and other issues. In addition, Trump said that "China also wants to make a deal, badly, but they don't know how to get it started. We are waiting for their call."
Trump's 10% baseline tariffs on all trading partners started Saturday, with the much higher bilateral rates for most partners beginning April 9. The president announced the massive tariff hikes on April 2, pushing average U.S. rates to the highest in a century. Those and other Trump tariffs are expected to have a massive impact on the economy and prices, significantly raising the risk of recession or stagflation.
Trump said late Monday that the higher-level bilateral rates will go forward, but also said he's open to negotiations.
Cathie Wood: The Other Monday Stock Market Purchases
Along with Nvidia and Amazon buys on Monday, Wood added around 84,000 shares of cryptocurrency play Coinbase, 4,000 shares of drone and missile maker Aerovironment and about 20,000 shares of Iridium Communications.
Buckle Up: What Trump Tariffs Mean For The U.S. Economy And Stock Market
Wood also spent $3.22 million on 40,358 of U.S.-listed shares for Chinese internet search giant Baidu. Trump has threatened China with an extra 50% tariff if Beijing does not withdraw its 34% retaliatory tariff on the U.S. Trump already slapped 20% tariffs on China earlier this year, and planned to add another 34% on April 9. So the combined total will be a 104% tariff on all Chinese goods, with many facing higher duties.
Cathie Wood's Monday stock purchases were made through ARK Innovation ETF, ARK Autonomous Tech, ARK Next Generation Internet, ARK Fintech Innovation ETF and ARK Space Exploration & Innovation ETF.
Wood's purchases on Monday follow an active Friday, even as the stock market broadly swooned. Last week, shares of ARK Innovation ETF sold off 13.9% while ARK Genomics ETF dropped 11.8%.
"We are in the eye of the storm but, if President Trump cares about his legacy — which we know he does — or the midterm election campaign season — which will start this fall — then the last leg of this rolling recession is giving him and the Fed more degrees of freedom to pivot," Wood on Friday posted to X.
"Innovation gains traction during tough times. When consumers and businesses are afraid — which they are now — they are willing to change the way they do things," Wood added, hinting this could be a boost for artificial intelligence and automation.
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