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1 AI Stock Cathie Wood Is Buying That Could Soar in 2024

TheMotleyFool

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1 AI Stock Cathie Wood Is Buying That Could Soar in 2024: https://g.foolcdn.com/editorial/images/757181/cloud-infrastructure-data-centers.jpg

Shares of next-gen data storage company Pure Storage (NYSE: PSTG) fell hard after its latest financial update, and tech investor Cathie Wood took the opportunity to nearly double up on a small existing position within the Ark Next Generation Internet ETF.

After the post-earnings tumble, Pure Storage stock is now up just 10% in the last 12-month stretch, lagging behind the nearly 23% gain of the Nasdaq Composite index over the same time span.

Investors might have temporarily soured on the stock, but the company is still putting up significant growth as it helps customers resolve pain points when expanding their digital workloads. This could be a top investment for 2024.

Source Fool.com

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