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Cathie Wood adds Roblox during drop, continuing trend of buying stocks on big dips

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Cathy Wood
Crystal Mercedes | CNBC

Ark Invest CEO Cathie Wood is trying to capitalize on weakness in gaming company Roblox, buying more than $11 million of the shares as the stock sank 8%.

Wood purchased 134,250 shares of Roblox in the ARK Next Generation Internet exchange-traded fund on Wednesday, her firm said. The position was worth roughly $11.1 million based on the stock's closing price of $82.59 per share.

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