Cathie Wood Goes Bargain Hunting: 2 Stocks She Just Bought

Some investors may be checking out heading into the holiday weekend, but that's not Cathie Wood's style. The founder and CEO of Ark Invest and stock picker for its growth-geared exchange-traded funds always keeps busy. She announces her trades at the end of every market day. And she bought a couple of stocks on Thursday.

Ark added to its existing positions in Baidu (NASDAQ: BIDU) and Nextdoor (NYSE: KIND) on Thursday. It's a contrarian move on both fronts, as the stocks are down 20% to 42% over the past year. Let's take a closer look at Wood's latest purchases.

China's leading search engine is still searching for a growth engine. Shares of Baidu have declined 6% in the two trading days since the company posted fresh financials on Wednesday morning. Revenue rose 3% to the U.S. equivalent of nearly $4.5 billion. It may not seem like much, but it's actually Baidu's strongest top-line showing in more than a year.

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