Renowned investor Cathie Wood has been busy making strategic moves in the market, and her latest purchases are worth taking a closer look at. Wood, the co-founder and CEO of Ark Invest, has been snapping up shares in three companies that are currently trading for under $10 a share.
One of these companies is 3D Systems, a pioneer in the 3D printing industry. Despite struggling in recent years, with revenue declining for the third consecutive year, Wood sees potential in the company’s ability to bounce back. Analysts predict revenue growth and narrowed losses in the coming year, making it an attractive buy for Wood.
Another company that caught Wood’s attention is Blade Air Mobility, a short-range air travel specialist that uses helicopters to transport vital organs for transplants and offers a luxury travel service for high-end clients. Although the company’s revenue growth has slowed, Wood believes in its potential to rebound, especially given its lower market cap and revenue multiple compared to its competitors.
Lastly, Wood has added to her existing position in Recursion Pharmaceuticals, a clinical-stage biotech company that leverages AI and machine learning to revolutionize the drug discovery process. With its innovative approach and recent acquisition of another AI drug discovery company, Wood is betting on Recursion’s future success.
These purchases demonstrate Wood’s willingness to take calculated risks and invest in companies with potential for long-term growth, even if they’re currently undervalued. As an investor, it’s essential to stay informed and adapt to changing market conditions. By keeping an eye on Wood’s moves, you can gain valuable insights into the market and potentially uncover hidden gems.
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