3 Stocks She Just Bought

We may have lost an hour to daylight savings time over the weekend, but Cathie Wood isn’t wasting any time. The Ark Invest co-founder, CEO, and ace stock picker added to 10 of her existing growth stocks on Tuesday. Investors know this because Wood publishes Ark’s buys and sells for her exchange-traded funds (ETFs) after the end of every trading day.

What’s she buying now? Some of the names on her Tuesday shopping list included Pinterest (NYSE: PINS), Nu (NYSE: NU), and Sea Limited (NYSE: SE). Let’s take a closer look at some of her latest additions.

1. Pinterest

Like diving into a recipe found on Pinterest, the visual-discovery engine’s stock is cooking again. Shares of Pinterest have doubled since bottoming out in the springtime of 2022.

The company has come through with back-to-back quarters of nearly 12% top-line growth, ending a run of five straight reports featuring single-digit upticks. Keep that last streak of single-digit revenue growth in mind, as it applies to another company in this article.

The 498 million active monthly users on its platform at the end of 2023 is an 11% increase over the past year. Average revenue per user also inched higher, delivering a 12% increase in revenue. The bottom line is holding up even better.

Image source: Getty Images.

Net income at Pinterest currently is growing much faster than its revenue growth. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 86% in the company’s latest quarter. It’s not just the scalable nature of a popular social platform. Pinterest has been controlling costs to make sure it’s better positioned to weather the next storm.

The company’s guidance calls for revenue to accelerate to 15% growth in the current quarter. Some analysts were hoping for more, but Pinterest has become a more complete growth story on both ends of the income statement.