![]() ![]() ![]() Perhaps best known for its colon cancer screening test Cologuard, Exact Sciences saw revenue increase 17% year over year to $553 million, while full-year revenue was up 18% to $2.1 billion. Part of the recent strength in EXAS stock was due to the company annoucing preliminary Q4 results that showed strong sales and a surprise profit. Over the past six months, shares have more than doubled, including a 34% gain so far in 2023. The stock has been a winner for Wood of late. The molecular diagnostics company that specializes in the detection of early-stage cancers is ARKK’s sixth-largest holding with a 5.9% weighting worth nearly $419.5 million. And she’s proven the naysayers wrong before.Īnother of Cathie Wood’s top picks is Exact Sciences (NASDAQ: EXAS). ![]() While some analysts have expressed concerns about shrinking margins and rising competition negatively impacting Tesla, Wood does not appear to share their concerns. Whether that prediction proves true or not, Wood is a huge fan of TSLA stock. Wood said she sees a major catalyst ahead for Tesla in self-driving robotaxis. But what’s a 10% drop when you expect the stock to rise to $2,000 a share? To Wood, it’s a buying opportunity. Interestingly, this bullish call came just after Tesla released disappointing quarterly earnings, causing the stock to drop 10% in a single day. She also predicted that the company could see a more than $6 trillion valuation in the next four years. Wood recently added to her position in the EV maker, scooping up $42 million worth of the stock for ARKK and another one of the firm’s funds. 1 holding in ARKK with a 9.4% weighting worth more than $664 million. Less than two years later, her prediction came true. She famously claimed in early 2020 that Tesla was worth more than $1 trillion. Wood’s bullish stance on electric vehicle ( EV) maker Tesla (NASDAQ: TSLA) is part of what put her on the map. Whatever the reason, Wood appears to be patient, and this patience could pay off handsomely. Or maybe she likes that management is forecasting 53% revenue growth at the midpoint of its guidance. Perhaps Wood sees promise in Unity Software’s recently completed merger with app developer ironSource, which “allows Unity to support developers through the entire development lifecycle as they build, run, and grow immersive, real-time games and 3D experiences into successful businesses,” the company said. In the first quarter, she bought 154,387 shares for ARKK and tens of thousands more for some of the firm’s other funds. But Wood continues to believe in the stock. Shares are down 63% over the past year and 87% since topping out at $210 in November 2021. Today, ARKK holds nearly 8.8 million shares worth more than $250 million, making it the fund’s 13th largest holding. Wood began investing in U stock in the third quarter of 2020. Unity Software (NYSE: U) bills itself as the “world’s leading platform for creating and operating interactive, real-time 3D (RT3D) content.” As such, it is poised to benefit from the growth in the metaverse. Here is a look at three of Cathie Wood’s top picks that investors will want to keep an eye on. For her part, Wood remains undeterred and has continued buying shares of disruptors on dips. While companies like this carry a lot of risk, they also have immense potential. This kind of volatility is not surprising given that many of the ETFs holdings are startups or disruptive companies whose share prices fluctuate wildly. That said, ARKK is up around 20% year to date. However, since peaking in February 2021, shares have lost more than three-quarters of their value. During the pandemic, Ark Invest’s flagship fund, the ARK Innovation ETF (NYSEARCA: ARKK), rose more than 300%. It is also an approach that has won her legions of fans among retail investors and her fair share of critics on Wall Street. It’s a thesis that has led to boom and bust cycles for the exchange-traded funds (ETFs) her company manages. As the founder and CEO of the investment management firm ARK Invest, she has an investment philosophy that focuses on innovative technologies and growth stocks. Cathie Wood is a well-known though polarizing investor. ![]()
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