2 Cathie Wood Growth Stocks to Buy and Hold for the Long Haul
Cathie Wood leads Ark Invest, an investment management firm that rose to prominence in the early days of the pandemic. Although the subsequent years were a bit harsher, Wood bounced back in 2023 -- along with much of the market. Ups and downs aside, Wood's exchange-traded funds (ETFs) are home to some excellent growth stocks that investors can safely hold through thick and thin. Let's look at two examples: Exact Sciences (NASDAQ: EXAS) and Block (NYSE: SQ).
Exact Sciences specializes in developing cancer diagnostic tests. The company's best-known product and biggest cash cow is Cologuard, an at-home colorectal cancer diagnostic kit. Exact Sciences has several other products, including its Oncotype Dx kit that helps predict the probability of recurrence in breast cancer patients and guides physicians in choosing the best treatment options.
Still, Cologuard is Exact Sciences' most important product, and though it has been on the market since 2014, there remains plenty of upside potential. Colorectal cancer is the second leading cause of cancer death in the U.S., even though it is highly treatable when caught early enough. That's a clear sign that not enough eligible people are being screened. Exact Sciences estimates a market of 60 million unscreened people in the U.S. between the ages of 45 and 85.
Source Fool.com
