Cathie Wood Goes Bargain Hunting: 1 Stock She Just Bought
Cathie Wood has developed a strong following among investors for anticipating digital trends that accelerated early in the pandemic. The Ark Invest chief often takes a contrarian position on stocks, and the exchange-traded funds (ETFs) she manages tend to focus on companies that are creating and spreading disruptive technology.
She has been a fan of e-commerce platform operator (NYSE: SHOP) for a long time, but over the past year, she has been cutting her ETFs' stakes in it. However, Shopify's stock price plunged this month, and Ark Invest is scooping up shares again. Should you follow her lead?
Shopify announced its first-quarter results on May 8. Investors weren't happy, to say the least. The stock is down 26% since the earnings release.
Source Fool.com
Shopify Inc Stock
Our community is currently high on Shopify Inc with 4 Buy predictions and 0 Sell predictions.
With a target price of 75 € there is a positive potential of 21.05% for Shopify Inc compared to the current price of 61.96 €.
