In today's video I look at three stocks Cathie Wood and the Ark Invest team bought this past week: Pinduoduo (PDD -7.40%), Okta (OKTA -1.20%), and 3D Systems Corporation (DDD -4.63%). Here are three reasons these three stocks could be worth a watch.
Three reasons to add Pinduoduo to your watchlist:
- Pinduoduo is an online Chinese marketplace that has brought a social aspect to the mix to keep users engaged in its platform.
- For FY 2020, Pinduoduo saw 66% year-over-year growth in gross merchandise value (GMV), 97% year-over-year growth in revenue, 94% year-over-year growth in total orders, and 35% year-over-year growth in active buyers.
- Pinduoduo's most recent earnings show the company is currently positive in cash flow from operations and has roughly five times more cash and short-term investments than debt.
Three reasons to add Okta to your watchlist:
- For Okta's most recent fiscal year, which ended January 31, 2021, the company saw revenue growth of 43% year over year and subscription revenue growth of 44% year over year.
- In March 2021, Okta signed a definitive agreement to acquire Auth0, a leading identity platform for developers. This acquisition will strengthen Okta's user identity authentication market.
- Okta has strong fundamentals with positive cash flow from operations and a balance sheet with more cash than debt.
Three reasons to add 3D Systems to your watchlist:
- 3D Systems provides 3D printing solutions from 3D printers, print materials, and manufacturing software. 3D printing is a market many investors believe is still in its early stages and can produce strong growth as the market develops.
- In its most recent investors presentation (March 2021), the company stated that it had completed its reorganization and restructuring plans. Now it will focus only on key applications within the healthcare and industrial markets.
- 3D Systems stock price has seen a massive correction, and it is down roughly 60% from its 52-week high.
Click the video below for my full thoughts.
*Stock Prices used were the closing prices of April 30, 2021. The video was published on May 2, 2021.