Cathie Wood's China Bet: Ark Buys Alibaba's AI Surge And Baidu's Autonomous Future, Dump's Stock Of Crypto-Pivot Brera - ARK Innovation ETF (BATS:ARKK)
On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Baidu Inc. (NASDAQ:BIDU), Alibaba Group Holding Ltd. (NYSE:BABA), and Brera Holdings PLC (NASDAQ:BREA).The Baidu TradeARK Innovation ETF (BATS:ARKK) purchased 52,388 shares of Baidu. The trade, valued at approximately $6.9 million, comes amid Baidu’s aggressive expansion of its Apollo Go robotaxi business into new markets. Baidu is in talks with governments in Australia and Southeast Asia to introduce its autonomous vehicles. This expa ...