Cathie Wood Is Buying This Biotech, but Here's Why I'm Not
From June 21 to July 7, growth-stock portfolio manager Cathie Wood bought shares of Verve Therapeutics (NASDAQ: VERV) a total of seven times, building up the position held in her ARK Innovation ETF. The biotech now accounts for just over 0.5% of her portfolio, and her company owns nearly 3.6% of its outstanding shares.
But I'm not going to follow in her footsteps and buy the stock, and you might want to avoid it too. Here's why.
The biggest reason not to buy Verve Therapeutics is that it's a pre-revenue biotech stock that won't have the chance to commercialize any therapy for at least a number of years.
Source Fool.com
