Cathie Wood Is Loading Up On These 5 Stocks

In this piece, we will take a look at the top five stocks that are on Cathie Wood’s radar. For more stocks, head on over to Cathie Wood Is Loading Up On These 12 Stocks.

5. Teladoc Health, Inc. (NYSE:TDOC)

Number of Shares Bought By Ark Investment on December 22, 2022: 18,972

Teladoc Health, Inc. (NYSE:TDOC) is a telemedicine company that is headquartered in Purchase, New York. The company provides remote medical care over the telephone and the Internet. It lets patients access the service at any time, and get prescriptions for a limited number of medications.

Cathie Wood bought 18,972 Teladoc Health, Inc. (NYSE:TDOC) shares on December 22, 2022. 27 out of the 920 hedge funds polled by Insider Monkey during Q3 2022 had held a stake in the company. Ark Investment is Teladoc Health, Inc. (NYSE:TDOC)’s largest investor as well, as it owns a $528 million stake in the company.

Greenhaven Road Capital mentioned the company in its Q3 2022 investor letter, outlining that:

“At the end of last year and the beginning of this year, I sold two of our highest multiple holdings and invested in Teladoc Health, Inc. (NYSE:TDOC), believing that swapping out of the highest multiple holdings into a lower multiple holding would provide protection in the event of multiple compression. However, the reality is that the multiple compression on currently loss-making (unprofitable) companies has been severe regardless of starting multiple, and TDOC’s lower relative starting point afforded us far less protection than I expected. We are no longer shareholders today but continue to follow the business and may return someday given its market size, product portfolio, and valuation.”