Cathie Wood Adds Three R Stocks to Ark Invest Portfolio
Renowned investor Cathie Wood has started the new year with a bang, adding three new stocks to her Ark Invest portfolio. All three stocks, Roku, Recursion Pharmaceuticals, and Rocket Lab USA, caught Wood’s attention and were added to her existing positions on Tuesday.
Roku, a streaming service platform, has been on an upward trajectory, with its stock more than doubling in 2023. Being an out-of-favor stock, Wood saw potential in Roku and made it one of her first three buys of 2024. The company has seen a turnaround in its revenue growth, with a 20% increase in its latest report. With a growing user base and a rebounding advertising market, Roku is poised for further growth in the year ahead.
Recursion Pharmaceuticals, a clinical stage techbio company, may not be cheap according to traditional valuation tools. The company’s Recursion OS platform uses machine-learning algorithms to speed up the development of future treatments.
Rocket Lab USA, a space services provider, has had its ups and downs. After a rocket explosion in September, the company’s stock took a hit. It bounced back after securing a $515 million contract with a US government customer. With a growing backlog of orders and plans to expand its launch capabilities, Rocket Lab is poised for growth in the coming years.
Cathie Wood’s latest purchases highlight her keen eye for potential and her willingness to take risks. These three “R” stocks have caught her attention and are now part of her portfolio. Wood’s additions to her portfolio demonstrate her confidence in the potential of these companies and their ability to deliver returns for investors. With a growing backlog of orders and expanding reach, Rocket Lab USA is poised for growth in the coming years.
