Cathie Wood's Ark Invest Has Bought $9.1 Million of Kratos Defense Stock So Far in July
The company is likely to play a crucial role in U.S. drone production.
Overview
So far this month, Cathie Wood's various Ark exchange-traded funds (ETFs) have bought about $9.1 million worth of stock in Kratos Defense & Security Solutions (NASDAQ: KTOS). With her recent buying, the position has grown to be the tenth largest across all Ark Invest ETFs, worth just north of $110 million as of the time of this writing.
That's a lot of enthusiasm for a defense company whose shares are down more than 33% this year. Yet even after that decline, it still trades at nearly 300 times trailing earnings -- a hefty premium. If you're wondering what Wood is seeing that other investors are overlooking, here are three reasons why the stock may be a buy.
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Originally published at www.fool.com.