We recently published a list of Cathie Wood’s 11 Favorite AI Stocks. Since Palantir Technologies Inc (NYSE:PLTR) ranks 3rd on the list, it deserves a deeper look.
Cathie Wood’s flagship fund is continuing to face steep losses amid a broader pullback in technology stocks. Wood’s flagship fund ARK Innovation ETF (NYSEARCA:ARKK) is down about 18% so far this year and has lost about 75% of its value since hitting its peak in 2021. However, the latest data shows that the innovation-focused investor bought the dip on tech stocks after the latest selloff that shook financial markets globally.
Investors have pulled about $2.2 billion from ARK funds in 2024. The fund is on track to post its worst year of investor exodus since 2014. But Cathie Wood is doubling down on her innovation bets and is hopeful the upcoming rate cuts will be positive for the stock market.
Cathie Wood Says “Something Is Changing” and the Fed is Now on “High…
