2 Growth Stocks That Cathie Wood Can't Stop Buying
The best time for long-term investors to generate life-changing returns is while stocks are down. With the Nasdaq Composite index down over 30% year-to-date and many individual stocks down more, this is possibly one of the times investors will look back on a decade from now as the start of their outstanding returns.
Cathie Wood and ARK Invest believe that to be true, and the firm has been buying tech stocks at these depressed prices. Specifically, ARK Invest has loaded up on Twilio (NYSE: TWLO) and Unity Software (NYSE: U) over the past month. With shares of each company down over 74% in 2022, should you follow in Wood's footsteps? Let's find out.
Shares of Twilio have plummeted this year, resulting in a rock-bottom valuation. Shares of Twilio now trade at just 3.6 times sales -- its lowest valuation since going public in 2016. Given this historically inexpensive price, Wood hasn't been afraid to buy shares: ARK Invest has added over 120,000 shares of Twilio across all of its funds since the start of September.
Source Fool.com
