Cathie Wood Continues to Stockpile Peloton Stock
Peloton Interactive (NASDAQ: PTON) has been on Wall Street's radar in a big way, with 24 of 27 analysts who cover the stock rating it a buy or strong buy. Star money manager Cathie Wood, the founder and CEO of ARK Investment Management, has been buying up the stock hand over fist, adding another 313,000 shares this week alone.
The ARK Next Generation Internet (NYSEMKT: ARKW) exchange-traded fund (ETF) continues to build a large position in the interactive fitness products company. Including the shares purchased through Thursday, the fund has amassed more than 1.4 million shares, with a market value in excess of $142 million. That represents more than 2% of the ETF's $6.9 billion in funds under management.
A Peloton Tread+ treadmill. Image source: Peloton.
Source Fool.com
