In this article, we discuss 10 Cathie Wood stocks that can rebound in 2023.
Cathie Wood’s ARK Investment Management has admittedly been battered by the rising rates environment and the market-wide selloff in growth equities. However, the flagship ARK Innovation ETF has had significant inflows of around $9.5 billion for eight days in a row as of June 27. According to Bloomberg data, this puts the fund’s total inflows at $639 million.
The heavy and consistent capital pouring into the fund indicates investor optimism and belief in Wood’s investment methods despite heavy losses. While the ARK ETF is still down 70% from its previous highs, it has posted gains of 14% in the previous two weeks. Wood continues to double down on her risky bets. Prominent names in her portfolio have taken a strong beating, yet she only added to her holdings in the first quarter of 2022.
Cathie Wood believes that innovation helps the world when it hits a crisis, as is evident by the winning pandemic streak of ARK. Some of the stocks in her portfolio that are decidedly crushed right now but could rebound significantly include Block, Inc. (NYSE:SQ), Robinhood Markets, Inc. (NASDAQ:HOOD), and Shopify Inc. (NYSE:SHOP).
Our Methodology
We picked the stocks from Cathie Wood’s Q1 2022 portfolio that have received optimistic analyst ratings despite the shares being significantly down. The hedge fund sentiment around the holdings was gauged from Insider Monkey’s Q1 database of 900+ elite hedge funds.
Cathie Wood of ARK Investment Management
Cathie Wood Stocks That Can Rebound in 2023
10. Teladoc Health, Inc. (NYSE:TDOC)
YTD Share Price Decline as of June 28: 63.10%
Number of Hedge Fund Holders: 36
Teladoc Health, Inc. (NYSE:TDOC) is an American virtual healthcare and telemedicine company. Securities filings for Q1 2022 reveal that Cathie Wood’s ARK Investment Management owned 19.4 million shares of Teladoc Health, Inc. (NYSE:TDOC), worth $1.40 billion. Cathie Wood boosted her Teladoc Health, Inc. (NYSE:TDOC) stake by 3% in Q1.
Oppenheimer analyst Michael Wiederhorn on May 26 observed that some American senators put forward a legislation that would remove Medicare’s requirement for face-to-face visits before telehealth procedures for mental services. This legislation would also improve telehealth services and transparency, according to the analyst. He continues to favor Teladoc Health, Inc. (NYSE:TDOC) as a high risk/reward opportunity and thinks these new policies are important to promote telehealth in the long-term.
Among the hedge funds tracked by Insider Monkey, 36 funds were bullish on Teladoc Health, Inc. (NYSE:TDOC) at the end of March 2022, compared to 39 funds in the earlier quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP is one of the prominent shareholders of the company, with 1.5 million shares worth about $112 million.
In addition to Block, Inc. (NYSE:SQ), Robinhood Markets, Inc. (NASDAQ:HOOD), and Shopify Inc. (NYSE:SHOP), Teladoc Health, Inc. (NYSE:TDOC) is a prominent Cathie Wood stock that can rebound in 2023.
Here is what Greenhaven Road Capital has to say about Teladoc Health, Inc. (NYSE:TDOC) in its Q1 2022 investor letter:
“Teladoc is the largest telehealth provider in the US and has recently begun to expand internationally. TDOC’s platform enables an ever-expanding list of patient-doctor interactions (including those for primary health care, mental health issues and chronic condition management) to transition from an on-site visit to one that can be done remotely with full video- based interaction. TDOC provides its platform of services on both a business-to-business and direct-to-consumer basis, through monthly subscription-based relationships. For its core business-to-business clients, the company contracts with a wide range of entities, including large scale employers (the company currently contracts with over 50% of the Fortune 500), health plans, health systems, and medical insurance companies, which currently cover more than 50 million members. For these customers, the company provides a win-win-win, as patients spend no time traveling and less time waiting, doctors are more efficient seeing more patients in less time, and payers (employers and plan sponsors) save money while being able to offer a highly popular additional benefit for their employees. This B to B market is projected to be a +$100 billion market opportunity and TDOC is the clear global market leader. For its direct-to- consumer clients, the company provides a growing suite of services for individuals to have affordable access to on-demand and scheduled medical services, for which their current insurance does not provide reimbursement (such as extended mental health counseling).
Although the company has been growing steadily for well over a decade, the business has transformed over the past few years as the COVID pandemic caused a significant increase in the demand for virtual healthcare. In addition, the company’s 2020 acquisitions of Livongo, the leader in virtual chronic condition management, and InTouch, a competitive telehealth platform, materially broadened the company’s product offerings. At its recent analyst day, management guided to 25-30% top line growth for each of the next three years, exiting 2024 with more than $4 billion in annual revenue. The company also anticipates expanding margins by 100-150 basis points per year in each of the next three years, while still accelerating its investments in marketing and R&D. As with many of our recent purchases, we took advantage of the decline in the company’s shares (down a breathtaking 70% from its 2021 high of almost $300 per share) to establish a small position in Teladoc.”
9. Block, Inc. (NYSE:SQ)
YTD Share Price Decline as of June 28: 60.01%
Number of Hedge Fund Holders: 84
Block, Inc. (NYSE:SQ) is a California-based financial services and digital payments company that offers point of sale terminals, auxiliary equipment, and debit cards. Block, Inc. (NYSE:SQ)’s main products and services include Square and CashApp. Cathie Wood boosted her Block, Inc. (NYSE:SQ) position by 35% in Q1 2022, holding 8.30 million shares worth $1.12 billion. The stock represents 4.70% of the total 13F holdings. Block, Inc. (NYSE:SQ) shares have declined 60.01% year to date as of June 28.
On June 15, Credit Suisse analyst Timothy Chiodo reiterated an Outperform rating on Block, Inc. (NYSE:SQ) but lowered the price target on the stock to $170 from $180 due to higher interest rates. According to the analyst, Block, Inc. (NYSE:SQ) is creating a two-sided network driven by Cash App and Afterpay, which offers a competitive edge in lead generation and conversion as compared to other merchant acquirers. The analyst sees a possibility of re-rating as Block, Inc. (NYSE:SQ) shares are trading at 7-times his 2022 gross profit, re-accelerating future trends, and an extensive list of “call options”.
According to Insider Monkey’s Q1 data, 84 hedge funds reported long positions in Block, Inc. (NYSE:SQ), compared to 96 funds in the earlier quarter. Brian Bares’ Bares Capital Management is one of the leading shareholders of the company, with 6.2 million shares worth over $842 million.
Here is what Farrer Wealth Advisors has to say about Sea Limited (NYSE:SE) in its Q1 2022 investor letter:
“Sea Limited had been selling off since its peak in early November of ~$363/share. This was driven by both a general sell off in tech, especially non-profitable tech, and a general belief that its gaming arm (Garena) was experiencing a slowdown due to its flagship game Free Fire. Free Fire has experienced a slowdown for three reasons: it is a victim of its own success, and by the end of Q321, nearly 10% of the world’s population already played the game, and thus reaching new users was difficult; A return to normal with people traveling/going out more and spending less time playing games; and the Indian market imposed a ban on the game due to anti-Chinese sentiment (Tencent is a large shareholder in Sea). We believed that these issues, while worth considering, were a bit overblown, and some of the data we saw from 3rd party sources showed that though Free Fire usage was dipping, it wasn’t too drastic. Thus, we marginally added to the position throughout the quarter. This was a mistake. During Sea’s earnings report in early March, the company guidance for Garena (down nearly 35% yoy) showed that the slowdown was far worse than predicted. Secondly, Shopee (Sea’s ecommerce arm) has pulled out of certain markets (in Europe and India), which long-term is probably the right strategy, but short-term hampers the optionality of the business. After considering this information and the guidance from earnings, we decided to significantly trim the position. In our opinion, management does have a bit of egg on its face from an overly aggressive expansion or as one investor called it, “bull market hubris.” We think management’s moves were mostly logical, it’s just that their failures came during an unforgiving market. While we believe that Sea’s future is still bright (especially with regards to their e-commerce and financial services), it will take a few quarters of strong earnings for them to regain their momentum, and for now the capital can be better spent elsewhere.”
8. Zoom Video Communications, Inc. (NASDAQ:ZM)
YTD Share Price Decline as of June 28: 38.60%
Number of Hedge Fund Holders: 43
Zoom Video Communications, Inc. (NASDAQ:ZM) is an American digital communications company that offers services including videotelephony, online chat, and business telephone systems. Cathie Wood’s Q1 filings reveal that her hedge fund owned 8.4 million Zoom Video Communications, Inc. (NASDAQ:ZM) shares, worth $986.3 million, representing 4.11% of the total holdings. ARK Investment Management increased its stake in the company by 23% in Q1 2022.
Cathie Wood has been a long-term Zoom Video Communications (NASDAQ:ZM) bull and she predicted in the beginning of June that the stock could touch $1,500 by 2026. That would mean more than 13-times its present share price of approximately $112 and represents yearly compounding growth of 76%. Even her bear case scenario offers a stock price of $700, which is higher than 6-times the current levels.
Daiwa analyst Stephen Bersey on Friday double upgraded Zoom Video Communications (NASDAQ:ZM) on May 31 to Outperform from Underperform, raising the price target to $121 from $107. The analyst contended that the latest pullback in the stock offers an attractive buying opportunity. He likes Zoom Video Communications (NASDAQ:ZM)’s primary business and said growth expectations now “seem more realistic”. The company’s “solid execution” in Q1 adds to the analyst’s “positive incremental conviction” that the core business demand for Zoom Video Communications (NASDAQ:ZM) is stabilizing.
Among the hedge funds tracked by Insider Monkey, 43 funds reported bullish positions in Zoom Video Communications (NASDAQ:ZM) at the conclusion of Q1 2022, compared to 48 funds in the prior quarter. Jim Simons’ Renaissance Technologies is the largest position holder in the company, with 6.4 million shares valued at $756 million.
Here is what Horos Asset Management has to say about Zoom Video Communications, Inc. (NASDAQ:ZM) in its Q1 2022 investor letter:
“What about the other asset class that has attracted the most attention from the investment community in recent times? Here we can distinguish three major groups. First, those companies without earnings that had convinced investors of their great future growth prospects, pushing up their valuations to irrational levels. A clear example of this, which we mentioned almost two years ago (see here) is Zoom Video Communications (“Zoom”), whose market cap exceeded that of companies such as IBM or came close to that of Cisco Systems. Well, from the time we wrote about this odd situation until today, Zoom shares have collapsed nearly 80%.
Therefore, if interest rates rise (or are expected to rise), company valuations are negatively impacted. This is especially true for those businesses that generate little cash today and the market expects them to generate a lot of cash in the future. Hence the severe losses in companies that promised a lot of cash generation in the future (such as Zoom).”
7. Bill.com Holdings, Inc. (NYSE:BILL)
YTD Share Price Decline as of June 28: 50.53%
Number of Hedge Fund Holders: 58
Bill.com Holdings, Inc. (NYSE:BILL) is a California-based company that offers cloud and AI software to simplify and automate financial operations for small and medium-sized businesses around the world. Cathie Wood’s ARK Investment Management held 158,482 shares of Bill.com Holdings, Inc. (NYSE:BILL) in Q1 2022, worth about $36 million, representing 0.15% of the total 13F portfolio. Bill.com Holdings, Inc. (NYSE:BILL) stock has dropped about 50.5% year to date as of June 28.
On June 22, Wells Fargo analyst Jeff Cantwell told investors that he expects Bill.com Holdings, Inc. (NYSE:BILL) to see higher than projected total payment volume in Q4, as the number of daily active users on its mobile application increased triple digits quarter-to-date versus the same period in the prior year.
Oppenheimer analyst Brian Schwartz maintained an Outperform rating on the stock but lowered the price target on Bill.com Holdings, Inc. (NYSE:BILL) to $150 from $190 on June 17. The analyst met the company’s CFO John Rettig, and left feeling comfortable about the overall business momentum and platform monetization. Regardless of the volatility in software stocks this year, soaring inflation affecting SMB cost structures, and macro risk, the analyst sees Bill.com Holdings, Inc. (NYSE:BILL) positioned to take advantage of new customer acquisition, SMB back-office digital transformation demand, rising prices, and growing traction in financial institutions.
According to Insider Monkey’s Q1 data, 58 hedge funds were bullish on Bill.com Holdings, Inc. (NYSE:BILL), compared to 65 funds in the last quarter. Gabriel Plotkin’s Melvin Capital Management is the leading shareholder of the company, with 1.6 million shares worth about $368 million.
Like Block, Inc. (NYSE:SQ), Robinhood Markets, Inc. (NASDAQ:HOOD), and Shopify Inc. (NYSE:SHOP), Cathie Wood is bullish on Bill.com Holdings, Inc. (NYSE:BILL).
Here is what Alger Mid Cap Focus Fund has to say about Bill.com Holdings, Inc. (NYSE:BILL) in its Q4 2021 investor letter:
“Bill.com Holdings, Inc., was among the top detractors from performance. Bill.com provides cloud-based software solutions that simplify, digitize, and automate complex back-office financial operations for small and medium size businesses. Its software helps customers to generate and process invoices, streamline approvals, send and receive payments, synchronize data with their accounting system and manage their cash.”
6. Sea Limited (NYSE:SE)
YTD Share Price Decline as of June 28: 67.81%
Number of Hedge Fund Holders: 77
Sea Limited (NYSE:SE) is a technology conglomerate that is based in Singapore. The company owns Garena, SeaMoney, and Shopee – products that specialize in e-commerce, digital payments and financial services, and online retail, respectively. Cathie Wood’s fund boosted its Sea Limited (NYSE:SE) stake by 302% in Q1 2022, holding 2.6 million shares worth $315 million. The stock has declined about 68% year to date as of June 28.
China Renaissance analyst Yi Sin Ngoh on May 19 assumed coverage of Sea Limited (NYSE:SE) with a Buy rating and a $118 price target. The analyst observed that while Garena’s bookings and profitability could deteriorate further in Q2, Gaming downside is already priced in the stock. Meanwhile, Shopee is likely to report moderate GMV growth and that part of the business is “on its path to profitability”, the analyst told investors. She anticipates reduced losses at Shopee and SeaMoney to drive the company’s profitability in FY24, the analyst added.
According to Insider Monkey’s Q1 records, Sea Limited (NYSE:SE) was part of 77 public hedge fund portfolios, compared to 108 funds in the prior quarter. Chase Coleman’s Tiger Global Management is the biggest shareholder of the company, with 13.5 million shares valued at $1.6 billion.
Here is what Farrer Wealth Advisors has to say about Sea Limited (NYSE:SE) in its Q1 2022 investor letter:
“Sea Limited had been selling off since its peak in early November of ~$363/share. This was driven by both a general sell off in tech, especially non-profitable tech, and a general belief that its gaming arm (Garena) was experiencing a slowdown due to its flagship game Free Fire. Free Fire has experienced a slowdown for three reasons: it is a victim of its own success, and by the end of Q321, nearly 10% of the world’s population already played the game, and thus reaching new users was difficult; A return to normal with people traveling/going out more and spending less time playing games; and the Indian market imposed a ban on the game due to anti-Chinese sentiment (Tencent is a large shareholder in Sea). We believed that these issues, while worth considering, were a bit overblown, and some of the data we saw from 3rd party sources showed that though Free Fire usage was dipping, it wasn’t too drastic. Thus, we marginally added to the position throughout the quarter. This was a mistake. During Sea’s earnings report in early March, the company guidance for Garena (down nearly 35% yoy) showed that the slowdown was far worse than predicted. Secondly, Shopee (Sea’s ecommerce arm) has pulled out of certain markets (in Europe and India), which long-term is probably the right strategy, but short-term hampers the optionality of the business. After considering this information and the guidance from earnings, we decided to significantly trim the position. In our opinion, management does have a bit of egg on its face from an overly aggressive expansion or as one investor called it, “bull market hubris.” We think management’s moves were mostly logical, it’s just that their failures came during an unforgiving market. While we believe that Sea’s future is still bright (especially with regards to their e-commerce and financial services), it will take a few quarters of strong earnings for them to regain their momentum, and for now the capital can be better spent elsewhere.”
5. Robinhood Markets, Inc. (NASDAQ:HOOD)
YTD Share Price Decline as of June 28: 51.93%
Number of Hedge Fund Holders: 19
Robinhood Markets, Inc. (NASDAQ:HOOD) is an American financial services company that operates as a stockbroker and offers an electronic trading platform to users. The company allows trading of stocks, exchange traded funds, and cryptocurrencies. Cathie Wood of ARK Investment Management raised her Robinhood Markets, Inc. (NASDAQ:HOOD) stake by 28% in Q1 2022, holding 30.35 million shares worth $410 million.
On June 28, Robinhood (HOOD) shares were up 14% driven by a Bloomberg report that FTX is interested in acquiring the company, although FTX indicated no plans to purchase Robinhood Markets, Inc. (NASDAQ:HOOD), Mizuho analyst Dan Dolev informed investors in a research thesis. The analyst believes a possible deal would be positive news for Robinhood Markets, Inc. (NASDAQ:HOOD) “as it helps expand its reach and breadth”. He also thinks that the company “can survive, and thrive on its own”. Dan maintained a Buy rating on the shares with a $14 price target.
According to Insider Monkey’s first quarter database, 19 hedge funds were long Robinhood Markets, Inc. (NASDAQ:HOOD), compared to 24 funds in the preceding quarter. Joshua Kushner’s Thrive Capital is one of the leading shareholders of the company, with 20.4 million shares worth $275.75 million.
Here is what Claret Asset Management has to say about Robinhood Markets, Inc. (NASDAQ:HOOD) in its Q4 2021 investor letter:
“Robinhood went public at $38 a share at the end of July of this year. After a one day decline of 8%, it proceeded to rise to a peak of $85 in a matter of 4 days before settling down around $40 in September. Then, we found out that the company does not appear to understand the margin rules that apply to their client’s trades… and got fined by the Securities Exchange Commission. As of today, it is trading below $20, at 57 times earnings, approximately half of its IPO price. Caveat emptor… Buyer beware.”
4. monday.com Ltd. (NASDAQ:MNDY)
YTD Share Price Decline as of June 28: 63.42%
Number of Hedge Fund Holders: 24
monday.com Ltd. (NASDAQ:MNDY) is an Israel-based company providing a cloud platform for work management, in addition to offering process management, project management, productivity software, team management, customer relationship management, and collaborative software. The stock declined over 63% year to date as of June 28.
Securities filings for Q1 2022 reveal that Cathie Wood’s ARK Investment Management held 207,991 shares of monday.com Ltd. (NASDAQ:MNDY), worth $32.8 million, representing 0.13% of the total 13F portfolio. The hedge fund strengthened its hold on monday.com Ltd. (NASDAQ:MNDY) by 171% in Q1.
On June 1, Tigress Financial analyst Ivan Feinseth reiterated a Buy recommendation on monday.com Ltd. (NASDAQ:MNDY) but lowered the price target on the stock to $240 from $432 to account for the re-rating of valuation, calling the recent pullback “a major buying opportunity”. monday.com Ltd. (NASDAQ:MNDY) reported “strong” Q1 results, and continues to see escalating demand for its “highly scalable and cost-effective” business management platform, Work OS, the analyst added.
According to Insider Monkey’s Q1 database, 24 hedge funds were long monday.com Ltd. (NASDAQ:MNDY), with collective stakes worth $681.3 million. Chase Coleman’s Tiger Global Management is the leading position holder in the company, with more than 2 million shares worth over $328 million.
3. Twilio Inc. (NYSE:TWLO)
YTD Share Price Decline as of June 28: 65.07%
Number of Hedge Fund Holders: 75
Twilio Inc. (NYSE:TWLO) is a California-based communications company that offers voice, SMS, MMS, SIP trunking, and call center products and services. The stock has declined over 65% year to date as of June 28. Cathie Wood’s ARK Investment Management held more than 5 million shares of Twilio Inc. (NYSE:TWLO) in Q1 2022, worth $827.5 million, representing 3.45% of the total portfolio. The hedge fund elevated its position in the company by 24% in Q1.
On June 9, Scotiabank analyst Nick Altmann initiated coverage of Twilio Inc. (NYSE:TWLO) with an Outperform rating and a $215 price target. The analyst contended that while Twilio Inc. (NYSE:TWLO) “may not be as clean as it has been in the past”, it remains one of the quickest organically expanding companies of its size. The analyst noted that Twilio Inc. (NYSE:TWLO) continues being the market leader in Communications Platform as a Service, which he called “the fastest-growing end-market in software”.
Among the hedge funds tracked by Insider Monkey, 75 funds were bullish on Twilio Inc. (NYSE:TWLO) at the end of March 2022, compared to 80 funds in the last quarter. David Goel and Paul Ferri’s Matrix Capital Management is a significant shareholder of the company, with 2.6 million shares worth $431.3 million.
Here is what Aristotle Capital Management Focus Growth Fund has to say about Twilio Inc. (NYSE:TWLO) in its Q1 2022 investor letter:
“Twilio detracted from performance in the first quarter, as the increase in interest rates continued to affect valuations of high growth, high valuation technology stocks. The multiple compression seen across the sector did not spare Twilio, even with strong fourth quarter results that beat expectations and a first quarter 2022 guidance for top line growth to be above consensus. We continue to believe that Twilio is a secular winner in the CCaaS space and view the long-term growth and profitability targets as achievable.”
2. Spotify Technology S.A. (NYSE:SPOT)
YTD Share Price Decline as of June 28: 59.45%
Number of Hedge Fund Holders: 49
Spotify Technology S.A. (NYSE:SPOT) is a provider of audio streaming services worldwide, operating through Premium and Ad-Supported segments. Cathie Wood owns 4.3 million Spotify Technology S.A. (NYSE:SPOT) shares as of Q1 2022, worth $662.7 million, representing 2.76% of her total 13F holdings. She increased her hold in the company by 10% in Q1. The Spotify Technology S.A. (NYSE:SPOT) stock has fallen about 60% YTD as of June 28.
On June 15, Wells Fargo analyst Steven Cahall upgraded Spotify Technology S.A. (NYSE:SPOT) to Equal Weight from Underweight and raised the price target to $124 from $101. The analyst observed that Spotify Technology S.A. (NYSE:SPOT)’s latest investor day pointed towards more profitable operations than his previous models. Driven by the strength in user and revenue growth, the analyst is willing to concede some margin expansion opportunity and allow management time to execute. The analyst’s Spotify Technology S.A. (NYSE:SPOT) estimates are moving up, in addition to his customer lifetime value projections.
Among the hedge funds tracked by Insider Monkey, Spotify Technology S.A. (NYSE:SPOT) was part of 49 public hedge fund portfolios, compared to 53 in the last quarter. Gabriel Plotkin’s Melvin Capital Management holds a significant stake in the company, comprising 1.5 million shares worth $233.2 million.
Here is what Baron Focused Growth Fund has to say about Spotify Technology S.A. (NYSE:SPOT) in its Q1 2022 investor letter:
“We also added to our positions in Spotify Technology S.A. The company has large addressable markets with strong brands that should allow them to take significant market share over time. We believe SPOT is appropriately financed and should generate significant cash to continue investing in their businesses for further growth.”
1. Shopify Inc. (NYSE:SHOP)
YTD Share Price Decline as of June 28: 74.30%
Number of Hedge Fund Holders: 72
Shopify Inc. (NYSE:SHOP) is a Canadian multinational e-commerce company. Cathie Wood’s ARK Investment Management owns 903,063 shares of Shopify Inc. (NYSE:SHOP) as of Q1 2022, worth $610.4 million, representing 2.54% of the total portfolio. The hedge fund boosted its stake in the company by 27% in the March quarter. Shopify Inc. (NYSE:SHOP) stock has dropped over 74% YTD as of June 28.
On June 24, Morgan Stanley analyst Keith Weiss resumed coverage of Shopify Inc. (NYSE:SHOP) with an Equal Weight rating and a $450 price target. The analyst noted that Shopify Inc. (NYSE:SHOP)’s “strong positioning against large longer-term opportunities” like Fulfillment is potentially undervalued right now, but macro risks, a normalization of e-commerce spending, and limited transparency from the company “present near-term risks”, the analyst added.
Among the hedge funds tracked by Insider Monkey, 72 funds were long Shopify Inc. (NYSE:SHOP) at the conclusion of Q1 2022, compared to 86 funds in the preceding quarter. Stephen Mandel’s Lone Pine Capital is one of the leading stakeholders of the company, with more than 1 million shares worth $699 million.
Here is what Polen International Growth Fund has to say about Shopify Inc. (NYSE:SHOP) in its Q1 2022 investor letter:
“We added to the Portfolio’s position in e-commerce company Shopify in the first quarter after a sharp share-price decline. This brought the Portfolio’s weighting in the company to 2%. We believe Shopify provides a uniquely positioned platform, and we like the company’s strategy of continuing to invest in its business in an effort to strengthen its competitive advantages. The market’s affinity for businesses like Shopify may have changed, which created an opportunity for us to build our position in the company at what we believed to be compelling valuations.”
You can also take a look at 10 Best Stocks To Buy In 2022 According To Billionaire Mario Gabelli and 6 Defensive Stocks to Buy in 2022 According to Seth Klarman.
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Disclosure: None. 10 Cathie Wood Stocks That Can Rebound in 2023 is originally published on Insider Monkey.
