Cathie Wood, the Founder, CEO, and CIO of ARK Invest, has been stumbling on most of her investments lately. Nonetheless, her undying conviction in disruptive and innovative technology stocks knows no bounds.
One of Cathie’s most notable investments remains in Zoom Video Communications (ZM) on the third spot (7.84% holding) in the top holdings of the famous ARK Innovation ETF (ARKK), just behind Roku (ROKU) with a 7.91% holding and Tesla (TSLA) with a 9.61% holding.
“Naysayers lump Zoom $ZM into profit less tech, concept capital, stay at home stocks. Along with Microsoft, we believe that Zoom will be a prime beneficiary of the first “rip and replace” cycle since the early nineties in the $1.5 trillion global enterprise communications space,” the hedge fund manager tweeted.
Her tweet was essentially a reply to one of the analysts at ARK Invest, Will Summerlin, who recapped Zoom’s fourth quarter Fiscal 2022 results with a cash-rich position and robust adjusted free cash flow margins.
Invariably, Cathie’s tweet has the crowd crying-out-loud, with several comparisons of better investment choices and potential long-term performers. Numerous tweets are questioning Cathie of Zoom’s moat or competitive advantage compared to similar apps including Microsoft’s (MSFT) Teams and Skype, Cisco’s (CSCO) Webex, and Amazon’s (AMZN) Chime.
Undoubtedly, the woman is headstrong in her beliefs and will continue to stand against the tide. Her only stance, these innovative stocks are budding long-term winners, and nothing that people say will alter her conviction in disruptive technology.
For now, all eyes are on how Zoom will kick start Fiscal 2023 with its first quarter results which are scheduled on May 23.
Discover new investment ideas with data you can trust.
Read full Disclaimer & Disclosure
