By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Trump’s Mideast Wish List: + Trillion in Investments – and Some Diplomacy Too
    Trump’s Mideast Wish List: $1+ Trillion in Investments – and Some Diplomacy Too
    May 13, 2025
    Djokovic-Murray coaching partnership ends before French Open | Tennis News
    Djokovic-Murray coaching partnership ends before French Open | Tennis News
    May 13, 2025
    Brussels seeks to sideline Hungary on Russia sanctions renewal – FT — RT World News
    Brussels seeks to sideline Hungary on Russia sanctions renewal – FT — RT World News
    May 13, 2025
    Investment banks lift China growth outlook after surprise trade deal with U.S.
    Investment banks lift China growth outlook after surprise trade deal with U.S.
    May 13, 2025
    First group of white South Africans lands in U.S. under Trump refugee plan
    First group of white South Africans lands in U.S. under Trump refugee plan
    May 13, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Curve DAO (CRV) price drops as Curve Finance battles DNS attack
    Curve DAO (CRV) price drops as Curve Finance battles DNS attack
    May 13, 2025
    Best crypto to buy: XRP, ADA and Bitcoin Pepe
    Best crypto to buy: XRP, ADA and Bitcoin Pepe
    May 13, 2025
    2025 Cloud Mining Gold Rush: 5 Platforms That Pay While You Sleep
    2025 Cloud Mining Gold Rush: 5 Platforms That Pay While You Sleep
    May 13, 2025
    Strategy Pumps Fresh .34 Billion Into Its Crypto Coffers
    Strategy Pumps Fresh $1.34 Billion Into Its Crypto Coffers
    May 13, 2025
    Coinbase (COIN) Shares Jump 8% Post-Market on S&P 500 Inclusion
    Coinbase (COIN) Shares Jump 8% Post-Market on S&P 500 Inclusion
    May 13, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
Business

Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought

Published February 7, 2024
Share
6 Min Read
SHARE

Contents
PalantirTeslaIntellia Therapeutics

Cathie Wood trounced the market in 2020, with her aggressive investing style helping Ark Invest’s family of exchange-traded funds outperform. She beat the market again in 2023 after back-to-back years of disappointing returns. She’s off to a challenging start this year, but she’s making trades — and publishing them daily for all to see — to get back on track.

What is she buying these days? Wood added to her existing positions in Palantir (NYSE: PLTR), Tesla (NASDAQ: TSLA), and Intellia Therapeutics (NASDAQ: NTLA) on Tuesday. Let’s take a closer look at the stocks she just bought.

Palantir

Wood has a tendency to buy on dips with many of her favorite stocks. On Tuesday, though, she bought one of that day’s biggest winners. Shares of Palantir soared 31% after the company posted blowout financial results. Wood bought on the pop.

Revenue rose 20% to $608.4 million, just ahead of the 18% increase that analysts were targeting. The software builder for the intelligence community also notched its fifth consecutive quarter of reported profitability. Palantir’s adjusted net income of $0.08 per share landed just ahead of the $0.07 per share that Wall Street pros were expecting.

Image source: Getty Images.

It doesn’t seem like much of a beat for such a big jump in price, but the report helped cement Palantir’s status as a play on artificial intelligence (AI). Some of last year’s biggest winners were AI stocks. Palantir shares more than doubled in 2023, and now they’re off to a great start in 2024. The stock has more than tripled since the start of last year.

Palantir was initially seen as a government contractor when it hit the market, but it’s making waves in the private sector. It saw its U.S. commercial revenue soar 70% for the quarter, now accounting for more than one-fifth of its top-line results. Guidance was also encouraging. After posting 17% revenue growth for all of 2023, the midpoint of its new outlook calls for a 19% increase this year.

Tesla

It’s been a bad start to 2024 for Tesla shareholders. The stock is trading 26% lower this year, off 38% from last summer’s high. Price cuts on its electric vehicles last year and a disappointing financial report two weeks ago aren’t helping. The shares opened lower on Tuesday after Jairam Nathan at Daiwa downgraded Tesla to neutral from outperform, slashing his price target from $245 to $195.

He feels that the recent corporate governance concerns related to CEO Elon Musk could get in the way of Tesla making long-term investments, as well as its ability to innovate. Bloomberg would go on to report on Wednesday morning that Tesla employees are starting to worry about layoffs after sources say managers were asked to identify which jobs at the company were critical. The EV pioneer remains Wood’s second-largest position across all of Ark Invest’s stakes.

Intellia Therapeutics

Wood isn’t afraid to take large positions in small stocks. Intellia Therapeutics has a modest $2.4 billion market cap, with an enterprise value that shrinks to $1.5 billion once you factor in its cash-rich and debt-light balance sheet. Ark Invest now owns more than 11% of its shares outstanding.

Intellia is a gene-editing stock, and it’s a good thing that it’s flush with cash given the company’s losing money at this phase of its life cycle. It’s still conducting early clinical-phase trials for some promising therapies.

Stifel lowered its price target on the shares from $93 to $80 last month. The firm is concerned that Intellia’s move to streamline operations — cost-cutting measures that should keep its current liquidity going through mid-2026 — may lead it to scale back on some longer-term projects. The silver lining here is that with the stock down 87% since peaking three years ago, it would have to more than triple from where it is now to hit that $80 goal.

Should you invest $1,000 in Palantir Technologies right now?

Before you buy stock in Palantir Technologies, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Palantir Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.

See the 10 stocks

*Stock Advisor returns as of February 5, 2024

Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intellia Therapeutics, Palantir Technologies, and Tesla. The Motley Fool has a disclosure policy.

Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought was originally published by The Motley Fool

#Cathie #Wood #Bargain #Hunting #Stocks #Bought

TAGGED:bargainboughtCathiehuntingStocksWood
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Woods to play next week’s PGA Tour event at Riviera Woods to play next week’s PGA Tour event at Riviera
Next Article Hamas proposes 135-day Gaza truce with complete Israeli withdrawal Hamas proposes 135-day Gaza truce with complete Israeli withdrawal
- Advertisement -

Latest Post

Trump’s Mideast Wish List: + Trillion in Investments – and Some Diplomacy Too
Trump’s Mideast Wish List: $1+ Trillion in Investments – and Some Diplomacy Too
World News
Curve DAO (CRV) price drops as Curve Finance battles DNS attack
Curve DAO (CRV) price drops as Curve Finance battles DNS attack
Cryptocurrency
Best crypto to buy: XRP, ADA and Bitcoin Pepe
Best crypto to buy: XRP, ADA and Bitcoin Pepe
Cryptocurrency
Djokovic-Murray coaching partnership ends before French Open | Tennis News
Djokovic-Murray coaching partnership ends before French Open | Tennis News
World News
Brussels seeks to sideline Hungary on Russia sanctions renewal – FT — RT World News
Brussels seeks to sideline Hungary on Russia sanctions renewal – FT — RT World News
World News
2025 Cloud Mining Gold Rush: 5 Platforms That Pay While You Sleep
2025 Cloud Mining Gold Rush: 5 Platforms That Pay While You Sleep
Cryptocurrency
- Advertisement -

You Might Also Like

Google makes emergency request to block Texas antitrust lawsuit move
Business

Google makes emergency request to block Texas antitrust lawsuit move

August 9, 2023
What are the benefits of hiring a home removal service?
Business

What are the benefits of hiring a home removal service?

January 28, 2024
Goldman Sachs conviction highlights quandary in policing staff behaviour
Business

Goldman Sachs conviction highlights quandary in policing staff behaviour

August 18, 2024
Crude oil little changed after volatile week with China demand fears lingering
Business

Crude oil little changed after volatile week with China demand fears lingering

August 17, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?