Despite the continued fall in stocks this year, which has hit Katie Wood’s own Ark Investment Management fund particularly hard, she is continuing to follow her strategy and this Wednesday purchased the depreciated shares of Coinbase, Yahoo writes.

The technology firm bought 546,579 shares of cryptocurrency exchange Coinbase (COIN) for about $3 million, according to a trading statement released by the firm. Ark bought up the stock, which fell about 30% after releasing financial results this week that reflected a quarterly loss of $430 million and a 19% month-over-month decline in users.

The drop in Coinbase shares sent shares of the flagship ARK Innovation ETF tumbling more than 10% in Wednesday’s session, extending a 5-day decline that has pushed Wood’s exchange-traded fund closer to March 2020 levels and the start of the COVID-19 pandemic.

Nevertheless, Wood’s Ark Invest bought about $2.9 million worth of Coinbase shares for 3 of its exchange-traded funds.

Despite the continued decline in her family of funds, Wood is steadfast in her commitment to persuasive investing in innovation-focused companies, buying those stocks that have been hit hard by the recent pressure on high-growth Big Tech companies.

According to Morningstar strategist Robbie Gringold, Wood favors companies that are often unprofitable and whose stock prices have corrected severely.

Gringold believes that rather than assessing a portfolio’s total risk and modeling its impact under different market conditions, Wood’s firm uses its past as a guide to the future and views risk almost exclusively through the lens of bottom-up research on individual companies.

Shares of ARKK were up about 3% of the session on Thursday and were trading at $37.90. However, the stock is down more than 75% from its February 2021 high and about 60% since the beginning of the year.