Cathie Wood Stock Portfolio: Top 10 Stocks to Buy Now

5. Roblox Corporation (NYSE:RBLX)

Ark Investment Management Equity Stake: $712.13 Million

Number of Hedge Fund Holders: 75

Roblox Corporation (NYSE:RBLX) is one of the top 10 stocks to buy now according to Cathie Wood. On August 15, Oppenheimer reiterated an ‘Outperform’ rating and a $158 price target on the stock. The positive stance comes amid growing concerns about platform abuse issues.

Platform abuse, comprising content and user behavior violations, remains a key challenge for Roblox. That’s in part because the company cannot eliminate questionable content or remove bad actors from the platform. Oppenheimer believes the stock faces near-term risk as behavior violation escalates into an online movement against the company.

Amid the concerns, Roblox has taken steps to address safety concerns. It has already open-sourced its AI system, Roblox Sentinel, to make it more effective in detecting potential child endangerment. The system has already contributed to over 1,200 reports of possible child exploitation.

Roblox Corporation (NYSE:RBLX) develops and operates the Roblox platform, a global co-experience platform that allows users to create, play, and share 3D experiences. It provides tools like Roblox Studio for content creation and the Roblox Client for users to explore these experiences. The company also offers Roblox Cloud, which provides the infrastructure for the platform.