Cathie Wood Only Bought One Stock Yesterday -- This Is It
Cathie Wood has been feasting in this current market climate. Growth stocks have stormed back into market fancy, and the Ark Invest founder, CEO, and tech investor has been rolling. Ark Invest's largest exchange-traded fund hit a new 18-month high on Thursday, soaring 68% so far in 2023. Wood appears to be back on track after back-to-back down years following her blowout 2020 performance.
Ark Invest publishes its daily transactions at the end of every trading day. As the lead investor, Wood has been active in recent weeks, with aggressive growth stocks leading the market rally. However, she was particularly quiet on Thursday. She added to only one existing position, which happens to be one of her smallest positions by market cap. Ark Invest's lone purchase was Nextdoor (NYSE: KIND). Yes, that Nextdoor. Let's take a closer look.
There's a fair chance you're familiar with Nextdoor. It operates a hyperlocal discussion board that groups its members across 310,000 neighborhoods. It attracts 40.4 million weekly active users, representing roughly one-third of U.S. households. The platform's user-facing goal is noble, connecting folks with neighbors, businesses, and public services:
Source Fool.com
