Nasdaq Bear Market: Cathie Wood Is Still Bullish on These 3 Beaten-Down Growth Stocks
Cathie Wood, the founder and CEO of Ark Invest, rose to popularity during the coronavirus pandemic thanks to her firm's successful bets on some of the most disruptive tech companies. Her flagship exchange-traded fund (ETF), the Ark Innovation ETF (NYSEMKT: ARKK), skyrocketed 153% in 2021, prompting many investors to closely watch her trading moves as signals for what they should do with their own portfolios.
But then, the rapid pandemic-fueled growth a lot of Wood's holdings had been benefiting from dissipated, and their stock prices plummeted. The tech-heavy Nasdaq Composite Index entered a bear market in 2022, and ended it down 33% for the year. One lesson investors can learn from last year's market is that even the most innovative businesses can see their shares crash.
However, this reality hasn't stopped Wood from remaining optimistic about innovators. Here are three beaten-down growth stocks that Wood is still bullish on.
Source Fool.com
