Cathie Wood Just Poured $18 Million Into Meta Stock. Here’s Why.

Cathie Wood, the founder of ARK Invest, has a reputation for adding stocks to her portfolio when others hesitate. Besides Apple (AAPL), shares of all other Magnificent Seven stocks are down so far this year. Wood took this opportunity to add $18 million worth of Meta Platforms (META) shares ahead of the company's July 29 earnings report. Despite Meta remaining one of the biggest beneficiaries of the AI boom, its stock is still down about 8% year-to-date (YTD) and 21% below its 52-week high, also trailing the tech-heavy Nasdaq Composite ($NASX). For Wood, however, the recent pullback appeared as an opportunity to load up on a rapidly growing AI stock. Here’s why.

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