3 stocks she just bought

It’s been a bit of a rough year for Cathie Wood, the maverick fund manager and head of Ark Invest. She’s built a reputation as a risk-taker and has gained many fans over the years — and a few naysayers. That’s partly due to her penchant for making big statements, like her $2.3 million price target for Bitcoinand partly because of his journey over the past few years.

Wood’s flagship fund, the Ark Invest Innovation Exchange Traded FundI missed a lot of what was THE defining the innovation of recent years, artificial intelligence (AI)She was one of the first to be skeptical about Nvidia and a great supporter of TeslaArk’s flagship ETF is down about 19% in 2024, while the Nasdaq Composite Index is up more than 13% over the same period.

Just because Wood hasn’t done a remarkable job picking stocks recently doesn’t mean his hot streak will continue. His run in 2021 has been pretty impressive. And maybe that Tesla bet will really pay off one day.

As the market fell from its recent highs, Wood had the opportunity to take advantage of bargains. Let’s take a look at some of the stocks she bought.

Wood bought shares in artificial intelligence giant Amazon

Wood bought for over a million dollars Amazon (NASDAQ: AMZN) She bought shares of five of her funds during the week of August 11. She bought them for about 10% less than their trading price the week before. I would say that’s a decent discount.

I think this is also a great pick. I’ve been a big fan of Amazon (as an investment) for some time. The company has positioned itself to take full advantage of the AI ​​revolution while strengthening its core e-commerce business.

The company recently reported relatively disappointing revenue growth in the second quarter, up 10% from a year earlier, but its earnings per share (EPS) growth was phenomenal and beat estimates. The company nearly doubled its EPS for the quarter, compared to last year.

Amazon still controls the vast majority of e-commerce, a market that will continue to gain ground on its brick-and-mortar counterpart. The company is also a market leader in cloud infrastructure, which will allow it to reap the benefits of generative AI as the technology takes off. If those two reasons aren’t enough to motivate the purchase, the company’s advertising segment is growing at a staggering rate.

AI-powered medicine is a big bet for Wood

Wood bought for more than $1.5 million Tempus AI (NASDAQ: TEM) shares of two of its funds, representing a discount of more than 15% compared to the peak reached at the end of July.

Tempus is an interesting initiative. It uses AI to create precision medicine solutions, i.e. solutions tailored to each individual, for oncology, cardiology and depression patients. If the technology can be proven on a large scale, it could be a significant advance in the treatment of these diseases.

The story continues

The company has yet to turn a profit, but it is far from breaking even, having generated more than $530 million last year.

Another medical technology company was one of Wood’s biggest purchases

Natera (NASDAQ: NTRA) is a genetic testing company specializing in…