PACB - Cathie Wood Just Added $5 Million of This Stock After It Had a Steep Pullback. Is It a No-Brainer Buy?
2023-10-18 05:52:00 ET
Cathie Wood isn't known for being a value investor. However, the Ark Invest CEO won't pass up the opportunity to scoop up shares of innovative companies when they're available at a lower price.
That's exactly what Wood and her investment firm have been doing with one stock, in particular, in recent months. Last week, Ark Invest added $5 million worth of Pacific Biosciences of California (NASDAQ: PACB) (PacBio) as its steep pullback continued.
Given Wood's interest and the fact that the stock is trading at a discount, is PacBio stock a no-brainer buy right now?
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Cathie Wood Just Added $5 Million of This Stock After It Had a Steep Pullback. Is It a No-Brainer Buy?