Cathie Wood is buying these 3 stocks

Cathie Wood, founder and CEO of Ark Invest, has been heavily involved in stock purchases in recent days. This week, she added new stocks in three growth stocks to her portfolio. Which stocks are they?

Advanced Micro Devices $AMD

Looking at AMD, it appears that despite the stock's current 4.36% decline in 2024, the company still represents an attractive investment opportunity. AMD stock has lost a quarter of its value since its February peak, even though its results for the most recent quarter beat expectations.

Although AMD's revenue growth has slowed after three years of growing at least 44% annually through 2022, the company showed a positive trend in the second half of last year. Data center revenue grew 115% year-over-year to $2.8 billion, which now accounts for nearly half of AMD's total revenue. Despite strong growth in this area, other segments - client, gaming and embedded - saw year-over-year declines.

Cathie Wood invested in AMD when the stock reacted positively to well-received financial results.

Pinterest $PINS

Pinterest, the well-known visual search engine, is struggling. Pinterest shares fell 14% after the release of its second-quarter results. Although revenue rose 21% to $854 million and adjusted earnings per share rose 38%, the future earnings outlook was lower than analysts expected.

Pinterest expects revenue between $885 million and $900 million for the current quarter, below the market's expectation of $909 million. This decline could be seen as a short-term problem, given that the company recently beat expectations by achieving 21% revenue growth instead of the projected 15%. Cathie Wood's investment in Pinterest could be beneficial if the company returns to a growth trajectory.

Intellia Therapeutics $NTLA

Intellia Therapeutics, which specializes in CRISPR therapies, has seen its stock drop 38% over the past year. Despite this, it still has a lot of potential, especially in the area of gene therapy for genetic disorders.

The company recently received approval to begin clinical trials in the UK for its potential treatment for a rare genetic lung disease. The results of the trial suggest that the new dose of therapy may provide better relief than previous doses. Although Intellia has seen the departure of its CFO, the investment opportunity is still there, according to analysts.

Disclaimer: There is a lot of inspiration to be found on Bulios, but stock selection and portfolio construction is up to you, so always do a thorough analysis of your own.

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