Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought

This hasn't been a good year so far for Cathie Wood. The Ark Invest co-founder and CEO has seen many of her favorite stocks slide in an otherwise ascending market. Though 2024 has gotten off to a strong start for most growth investors, Ark Invest's largest exchange-traded fund (ETF) is trading 4% lower year to date. Some of her top holdings are faring even worse.

Shares of Tesla (NASDAQ: TSLA), Roku (NASDAQ: ROKU), and Roblox (NYSE: RBLX) are down by between 20% to 31% so far in this young year, but Wood added to all three positions on Monday. Let's look at a closer look at the currently out-of-favor stocks she is buying.

Tesla's stock price more than doubled in 2023. This year, it has been a different story. The leading maker of electric vehicles (EVs) moved lower in January after it announced poorly received financial results for the fourth quarter. Revenue rose just 3% to $25.2 billion while adjusted earnings plummeted 40% to $0.71 a share. Analysts had been expecting more on both fronts.

Continue reading

Source Fool.com