Cathie Wood Bought This Stock for a Bargain. Should You Follow?
Star investor Cathie Wood is usually one to follow. The founder of ARK Invest has watched her biggest fund gain nearly five times more than the S&P 500 over the past five years. But what about when Wood goes for a company that's disappointing investors?
That's the case with Vertex Pharmaceuticals (NASDAQ: VRTX). In less than a year, the biotech company ended development of two candidates in one of its rare-disease programs. After news broke of the latest to go, the stock sank more than 11% in one trading session.
That's when Wood moved to increase her Vertex holdings. The stock is among the top 10 holdings in the ARK Genomic Revolution ETF. Now the question is, should you follow Wood's lead and consider shares of this biotech company?
Source Fool.com
