BEAM - Cathie Wood Is Buying This Growth Stock Hand Over Fist Lately. Should You Follow Her Lead?
2023-10-03 06:27:00 ET
This September, Cathie Wood bought shares of Beam Therapeutics (NASDAQ: BEAM) more than a dozen times for two of Ark Invest's exchange-traded funds ( ETF s). At the beginning of October, the biotech stock was the 13th-largest holding in the Ark Genomic Revolution ETF and the 19th-largest holding in the flagship Ark Innovation ETF .
Beam Therapeutics is a clinical-stage drugmaker working on a new approach to gene therapy. Plenty of biotechnology companies are developing potential one-shot cures to serious inherited diseases, but Beam's proprietary technology makes it stand out.
Should you follow Wood's lead and load up your own portfolio with Beam Therapeutics stock? Let's weigh its strengths against the challenges ahead to find out.
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Cathie Wood Is Buying This Growth Stock Hand Over Fist Lately. Should You Follow Her Lead?