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
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.
Shares of Roblox, Block and Robinhood are down at least 25%…
