Cathie Wood buying beaten-down tech stocks, focusing on growth amidst slowing economy

From Nasdaq
August 7, 2024 3:47 PM:

Disruptive innovation investor Cathie Wood has been buying beaten-down tech stocks, leading the Ark funds to struggle against the market. Higher interest rates are impacting unprofitable tech companies in the Ark funds, causing them to focus on growth amidst a slowing economy. Crowdstrike stock has plummeted over 40% following a global IT outage, but Wood sees potential for recovery. Palantir stock has seen gains despite market losses, with strong quarterly results driving investor interest. Coinbase stock has dropped over 30% and presents a promising opportunity for investors seeking exposure to Bitcoin and blockchain technology.

Read more at Nasdaq.: Next-Gen Internet Plays: 3 Top Innovation Stocks Hand-Picked By Cathie Wood