Cathie Wood, a well-known growth stock investor who runs Ark Invest funds, has renewed her focus on companies that are not currently going through their best period on the stock market. Despite markets breaking records, shares of companies such as Pinterest, PayPal and GitLab are still well below their all-time highs.
However, Cathie Wood has not hesitated to add these three companies to its portfolio. What's driving her to do this? Let's take a closer look at each of them.
Pinterest.
Pinterest $PINS is a visual search platform that experienced a surge in popularity during the pandemic, with people spending more time at home looking for inspiration for home projects or culinary ideas. However, this growth was followed by a lull as life gradually returned to normal. Pinterest, however, is now back in the limelight.
Pinterest's revenue growth has accelerated over the past six quarters, surpassing 20% in two quarters this year. The active user base grew 12% to reach a record 522 million…