Cathie Wood’s recent comments concerning Invitae (NYSE:NVTA) stock have shares soaring higher on Tuesday.
During an interview on CNBC’s Closing Bell, Wood was asked what she believes is the most underappreciated stock. She replied with the following.
“Invitae in the molecular diagnostics space is probably one of the most important companies in the genomic revolution, and it is getting hammered. It is a company that has had, historically, small cash cushions, although they’ve rectified that with offerings, which is great. It is investing aggressively to be the leader in the molecular diagnostic testing space.”
Cathie Wood’s positive comments for NVTA spiked interest from investors. As of this writing, more than 6 million shares of the stock have changed hands. That’s a decent increase compared to its daily average trading volume of 4.8 million shares.
It’s also worth noting that Cathie Wood has been on a roll lately with her stock investments. her ARK Innovation ETF (NYSEARCA:ARKK) has been seeing gains today alongside many of its major holdings. Investors can learn more about that at this link.
NVTA is far from the only company that Cathie Wood has taken an interest in of late. Investors that are looking to catch up on recent news about the ETF manager can check out the following content from InvestorPlace.
- ARK Invest Buys: What Stocks Is Cathie Wood Buying on the Dip This Week?
- Ark Invest Funds: Why ARKG, ARKF, ARKQ and the ARKK ETF Are Stumbling
- 4 Cryptos to Buy No Matter What Janet Yellen Says
- 10 of the Hottest ETFs To Buy Right Now
- What Did the Stock Market Do Today? 3 Big Stories to Catch Up On.
NVTA stock was up 11.8% as of Tuesday afternoon but is down 11% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.