Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
Key Points
Cathie Wood bought shares of Amazon, SoFi, and Snowflake on Monday.
Amazon is trading just 3% higher this year. Several "Magnificent Seven" stocks fared far worse.
SoFi has surrendered nearly a third of its value this year, a sharp contrast to handily beating the market in the three previous years.
- These 10 stocks could mint the next wave of millionaires ›
Cathie Wood tends to do well when tech stocks are rallying, and the second quarter was strong for that kind of investing. The founder and CEO of Ark Invest saw her largest exchange-traded fund jump nearly 20% in the past three months, and she's not done making moves as we head into the second half of 2026.
Wood added to several existing Ark positions across her family of ETFs on Monday. Some of the more intriguing names include Amazon (NASDAQ: AMZN), SoFi Technologies (NASDAQ: SOFI), and Snowflake (NYSE: SNOW). Let's take a closer look at these three stocks.
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1. Amazon
Everyone has an opinion on Amazon stock. Bears will argue that the country's largest publicly traded company by trailing revenue is vulnerable. With consumer confidence waning, can a retailing platform be a safe investing bet?
There's also the changing tide at Amazon Web Services (AWS). The cloud hosting platform is a juggernaut that accounts for just a fifth of Amazon's total business but more than half of its trailing operating profit. With Amazon investing heavily in AI, will the long-term gain for AWS come with some short-term pain?
Bulls can counter that Amazon is a different company with AWS as a workhorse. The 17% jump in net sales it posted in the first quarter was its fastest year-over-year increase in four years. AWS is not only growing faster than all of Amazon -- up 28% in its latest quarter -- but also drawing welcome attention to the entire ecosystem.
It's been a year of large AI wins for Amazon, but 2026 has been mostly forgettable for Amazon investors. The stock is up a mere 3% this year, losing badly to the overall market.
2. SoFi Technologies
SoFi was Wood's largest purchase for Ark's largest ETF on Monday. SoFi is an online bank with 14.7 million members. After crushing the market for three consecutive years -- and appreciating fivefold in that time -- SoFi stock has stumbled this year. The shares are trading 32% lower this year, making the branchless bank an interesting out-of-favor purchase.
SoFi is growing faster than most stateside fintechs. Adjusted revenue rose 41% for its first quarter, and profitability doubled. The risk with SoFi is that it's at the mercy of the same financial trends of traditional banking platforms, and SoFi trades at an industry premium. However, it's also growing a lot faster. The recent conversion of its SoFi Plus platform to an exclusive premium offering will go a long way toward revealing the kind of brand and pricing power that SoFi has secured in recent years.
3. Snowflake
Snowflake provides a popular AI-fueled data warehousing and analytics platform that turns big data into actionable business insights. It's not growing as quickly as it did when it went public six years ago, back when revenue routinely more than doubled, but the platform's stickiness and recent acceleration should put it back on growth investors' radars.
The 34% revenue growth it posted in its latest fiscal quarter is Snowflake's strongest top-line jump since the summer of 2023. Companies trust Snowflake with a lot of money, with 779 of its customers spending more than $1 million apiece on the platform over the past year. It has a dollar-based net revenue retention rate of 126%, meaning returning customers spend 26% more with Snowflake than they did a year ago.
Reported profitability is still years away, but it's making positive moves on an adjusted basis -- bearing in mind that the company isn't cheap even on that basis, trading for 95 times next fiscal year's earnings. Snowflake stock is trading higher this year, but it's still more than 40% below its all-time high reached in late 2020.
It may be a hot summer, but Wood is out there catching a falling Snowflake.
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Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Snowflake. The Motley Fool has a disclosure policy.
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