Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
The widely followed growth investor made some big market purchases on Tuesday.
Overview
Cathie Wood has been quiet on the trading front in recent trading days, but she was busier than usual on Tuesday. The founder-CEO and chief investment officer of Ark Invest was busy adding to existing growth-stock positions in her exchange-traded funds. What was on Wood's shopping radar on a largely sour day for the market?
Ark bought shares in Nvidia (NASDAQ: NVDA), Space Exploration Technologies (NASDAQ: SPCX), and Airbnb (NASDAQ: ABNB) on Tuesday. Nvidia moved lower on Tuesday, but it's closed just 3% away from its all-time high. SpaceX and Airbnb moved higher, but they are trading 19% and 34% below their previous highs, respectively. Why is Ark Invest adding to these three stocks, and should you follow suit? Let's take a closer look.
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Originally published at www.fool.com.