Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
If you’re an avid follower of Cathie Wood, you know that there’s never a dull moment when it comes to her investment strategies. As the co-founder, CEO, and stock picker at Ark Invest, Wood shares her daily transactions at the end of each trading day. Recently, she added to her positions in Amazon (NASDAQ: AMZN), 3D Systems (NYSE: DDD), and CRISPR Technologies (NASDAQ: CRSP) to kick off the new trading week.
Let’s delve deeper into her latest reinvestments and discover the unique insights behind each move.
Amazon: Keeping an Eye on Earnings
Wood increased her stake in Amazon ahead of the company’s third-quarter earnings report. Despite the stock being 6% away from its all-time highs, Wood remains optimistic about the upcoming results. While buying in before earnings didn’t pay off last time, Wood’s confidence in Amazon’s high-margin Amazon Web Services segment could be driving this decision.
3D Systems: A Disappointment with Promising Potential
3D Systems has experienced a significant decline in both stock price and revenue this year. However, the company continues to explore new possibilities in additive manufacturing, receiving FDA clearance for innovative solutions. Despite the current market sentiment, Wood sees potential in 3D Systems if top-line growth resumes.
CRISPR Therapeutics: Leveraging Gene-Editing Innovation
As a leading player in the gene-editing field, CRISPR Therapeutics holds promise in developing solutions for genetic diseases. With its first approval last year and a focus on expanding into oncology and cardiovascular markets, CRISPR is well-positioned for growth. Wood’s decision to increase her stake in the company reflects her confidence in its long-term potential.
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*Stock Advisor returns as of October 21, 2024. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and CRISPR Therapeutics. The Motley Fool recommends 3D Systems. The Motley Fool has a disclosure policy.
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