Cathie Wood, the founder and CEO of ARK Invest, is best known for chasing high-growth opportunities in disruptive technologies before they go mainstream. That’s exactly why her latest move stands out. Instead of doubling down on genomics, fintech, or artificial intelligence (AI) startups, this high-profile investor has turned to a more traditional blue-chip name: Deere & Company (DE), also known as John Deere.
On Aug. 14, Wood’s flagship ARK Innovation ETF (ARKK) made a big bet on Deere, scooping up 64,789 shares worth about $33.3 million, the largest ARK purchase in dollar value that day. And Cathie Wood wasn’t done. Over the next three consecutive trading sessions, ARK continued to add to its Deere stake, taking advantage of the stock’s selloff following the company's latest earnings report. What makes this move even more interesting is how different Deere looks compared to ARK’s usual holdings.
