Cathie Wood Just Loaded Up on This High-Flying Growth Stock: Is It a Buy After Soaring More Than 270%?
Cathie Wood is no longer a huge fan of Nvidia. Her Ark Invest exchange-traded funds have steadily sold large blocks of shares in the chipmaker in recent months.
However, Wood has become even more enamored with another innovative company that has delivered an even more spectacular return than Nvidia so far this year. She just loaded up on this high-flying growth stock. Is it a buy after soaring more than 270%?
Which stock has especially captured Wood's fancy these days? Archer Aviation (NYSE: ACHR). The company went public nearly two years ago through a merger with special purpose acquisition company (SPAC) Atlas Crest Investment. Although Archer stock didn't get off to a great start then, it's been sizzling hot so far in 2023.
Source Fool.com
