Cathie Wood Just Made a Big Bet on Recursion Pharmaceuticals Stock. Will It Pay Off?
Cathie Wood can't get enough of Recursion Pharmaceuticals (NASDAQ: RXRX) stock. Through her Ark Innovation ETF, the maverick growth stock portfolio manager bought shares of the biotech three times, expanding her position from a mere 61,000 shares to roughly 4 million by Nov. 14. When news of her purchasing first broke, the company's stock rose by 30% over the following days.
But Wood is known for making huge bets on potentially disruptive businesses, and it's a fact that sometimes chasing the big new thing doesn't pan out as intended. Let's explore what's driving her decision with this stock, and make a few predictions about whether it'll prove to be a smart investment in a few years from now.
Cathie Wood's strategy is to invest in companies with big ideas that plan to use cutting-edge technology to reshape their markets and industries with new paradigms.
Source Fool.com
