Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
Cathie Wood is cooling down this hot summer. The CEO, co-founder, and rock-star stock picker for the Ark Investment family of exchange-traded funds (ETFs) got off to a strong start in the first half of this year, but her aggressive investing style has proven mortal lately. Her largest ETF has declined by more than 20% since peaking four weeks ago.
Wood publishes her transactions at the end of every trading day. What is she adding to her portfolios these days? Wood added to her stakes in UiPath (NYSE: PATH), Ginkgo Bioworks (NYSE: DNA), and Archer Aviation (NYSE: ACHR) on Thursday. What does Wood see in these three somewhat companies? Let's explore why she thinks they could be the ticket to getting back into a good groove.
It's not just the Ark ETFs correcting after a strong first half of the year. Shares of UiPath rose 30% through the first six months of 2023, but the stock is now down 27% since peaking in June.
Source Fool.com
