TDOC - Cathie Wood Has Been Steadily Selling Shares of This Growth Stock. Should You?
2024-05-31 05:45:00 ET
Superstar investor Cathie Wood is known for picking up promising stocks when they're down -- the founder and chief executive officer of Ark Invest doesn't mind going against the crowd. She's focused on innovative companies with promising long-term prospects, and these sorts of stocks populate her funds. Wood doesn't count on them delivering overnight but instead generating lasting growth over a period of years.
This top investor is betting on various big names such as Tesla , her top holding, as well as smaller companies such as gene-editing specialist CRISPR Therapeutics -- and her stock picks span a variety of industries, as long as innovation is involved. Investors often watch Wood and sometimes follow her investment moves, hoping to benefit from her expertise.
Well, in recent weeks, one of Wood's recurrent moves has been to sell shares of one of her longtime favorite stocks, Teladoc Health (NYSE: TDOC) . Wood's flagship Ark Innovation fund and Genomic Revolution fund still include the telemedicine giant at weightings of 1.3% and 2.35%, respectively, so she hasn't given up on the company -- but she has steadily reduced positions. Should you follow her lead?
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Cathie Wood Has Been Steadily Selling Shares of This Growth Stock. Should You?