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Cathie Wood buys $15 million of soaring mega-cap tech stocks

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Cathie Wood , CEO of Ark Investment Management , specializes in small- and midcap technology stocks.

Her flagship Ark Innovation ETF, with $5.5 billion in assets, produced annualized returns of 15% for the past 12 months , negative 25% for past three years and positive 3% for five years .

Wood soared to fame after a whopping return of 153% in 2020 and clear explanations of her investment strategy in frequent media appearances.

Morningstar analyst Malik Ahmed Khan has a positive view on the stock, though he says it’s a bit overvalued.

He gives Meta a wide moat and puts fair value at $ 560 .

It traded Friday at $ 587 . It traded last week at $ 590 ..