The famous investor favors innovators.
The famous investor favors innovators.
Investors often watch the moves of Cathie Wood as she's known for identifying tomorrow's winners today. The chief of Ark Invest focuses on innovation, aiming to buy companies working on cutting-edge technology early in their growth stories -- and for a good price. Then she holds on for the long term as the company benefits from its years of research and development.
Just this week, Wood went bargain hunting and picked up shares of a cheap "Magnificent Seven" stock. And she did this ahead of Oct. 21, which represents a potential catalyst for the stock. Should you follow her lead? Let's find out.
Cathie Wood added shares to a key technology ETF
So, first, let's check out the moves this famous investor made recently. And these moves concern Meta Platforms (META -0.11%), a social media giant and potential artificial intelligence (AI) winner.
On Oct. 13, Wood added 20,125 shares of Meta to her Ark Next Generation Technology ETF, or exchange-traded fund. And the following day, she bought 9,577 more Meta shares for the fund. The company is the second-biggest position in this ETF, with a weight of 5.7%. (Tesla, another "Magnificent Seven" company, is the largest holding with a weight of more than 7%.)
It's not surprising to see Wood adding to her Meta position as she is bullish on AI, and Meta has made this technology an area of focus. You probably think of social media when you see the name "Meta" since the company owns the most successful of apps, from Facebook to Instagram. This leadership has translated into a revenue stream that Meta can count on -- and this is thanks to advertising.
Advertisers pay to promote their goods and services across Meta's apps, and this has helped grow Meta's earnings over time. The company's financial strength offers it the ability to invest billions of dollars in AI, and in recent weeks, it's reached significant milestones. Meta launched its personal AI agent, Muse, last month, and downloads soared -- in fact, they reached the level of 5 million ahead of ChatGPT and Claude after their launches. And just this week, Meta released Muse Wonder and Muse Wonder Full, models for personal and professional agentic AI.
$736.72-$0.82 (-0.11%)
NASDAQ · As of 4:00 PM ET 10/15/26
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