Cathie Wood is renowned for making audacious wagers on disruptive innovation. Investors continue to pour cash into her hedge fund despite the fact that her flagship ARK ETF has lost almost 75% of its value from its highs in 2021. As of June 12, this year, ARK recorded receipts of $167 million. According to Cathie Wood, a recession is already present in the economy. She mentioned well-known US shops like Walmart and Target and claimed that even they were having issues with their inventories and supply chains. This implies that there can be other issues with businesses besides these enormous ones. Two of the most significant investors in their respective fields are Cathie Wood and Steve Cohen.
Insider Monkey highlights the 10 stocks that Cathie Wood and Steve Cohen love. Located in New York, Teladoc Health, Inc. is a global telemedicine and virtual healthcare provider. In the first quarter of 2022, Cathie Wood’s ARK Investment Management increased its ownership of Teladoc by 3%. The hedge fund invested $1 million in the business. As of Q1 2022, Cathie Wood has a $1 billion holding in Exact Sciences Corporation. By purchasing 24,100 shares for $1.68 million, Steve Cohen’s fund increased the stock’s position in its Q1 portfolio. A New York-based business called UiPath Inc. creates software for robotic process automation. On June 27, the business increased its non-GAAP operating income forecast for the entire year. This occurred after the business disclosed a restructure and a 5% reduction in its global staff. The business supports Brazilian merchants with e-commerce, in-person, online, and mobile transactions. In the first quarter of 2022, Cathie Wood’s hedge fund held a $31.30 million position in StoneCo Ltd. In the business, Steve Cohen’s fund had a $26.65 million investment. A Boston-based provider of online gaming and digital sports entertainment, DraftKings Inc. ARK Investment Management, run by Cathie Wood, is the owner of 23.4 million shares, valued at $456 million. The stock was added to Steve Cohen’s holdings in the first quarter of 2022. For more details, click 10 Stocks That Cathie Wood And Steve Cohen Love.
