Cathie Wood Just Bought Netflix Stock. Should You Follow Her?
Cathie Wood might not have the following that she once did when her flagship fund, ARK Innovation ETF, more than doubled in 2020, but investors still keep track of her moves.
Ark Invest, her investment company, is the rare fund manager that discloses its moves on a daily basis, and Wood has always been open with her thinking and analysis, as she’s known primarily for betting on disruptive innovation with stocks like Tesla.
So it was noteworthy that Ark added to its holdings of Netflix (NASDAQ:NFLX) on Wednesday, after the leading streamer delivered a disappointing third-quarter earnings report the night before, showing the company continues to struggle with weak engagement and slowing growth.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.