Cathie Wood Has Been Piling Into Amazon Stock. Should Investors Follow Suit?

Cathie Wood built a name for herself and her investment firm Ark Invest by racking up some huge gains between 2017 and 2020 in the exchange-traded fund Ark Innovation ETF (NYSEMKT: ARKK). However, since 2020 the ETF's performance has been much more volatile, including a 67% decline in 2022 followed by a nearly 68% gain in 2023. This year the fund is trading down more than 10% despite the strong performance by the broader market. Looking to help turn around her ETF's performance around this month, Wood has made some adjustments to her portfolio in recent months. One adjustment was to buy 76,505 shares of Amazon (NASDAQ: AMZN), worth nearly $14 million, on Oct. 8. Let's take a closer look at Amazon and see if investors should follow Wood into the stock.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool