3 Stocks Cathie Wood Bought on Thursday

Cathie Wood added to Broadcom, DoorDash, and Coinbase on Thursday, even as Broadcom fell 13% after a mixed earnings report and guidance that failed to match elevated expectations. Broadcom still posted 49% revenue growth to $22.2 billion and 84% year-over-year Q3 revenue guidance of $29.4 billion, but the stock lost $285.6 billion in market cap on the day. DoorDash and Coinbase remain deeply discounted from their highs, down about 44% and 64%, respectively, reflecting pressure from consumer caution and weaker crypto activity.

Analysis

The market reaction across these three names is less about fundamentals in isolation and more about positioning getting violently repriced. Broadcom looks like a classic “good quarter, bad setup” event: when a stock has already absorbed multiple years of AI premium expansion, even a modestly acceptable guide can trigger de-grossing across the whole semiconductor complex. The second-order effect is that capital may rotate from scarce AI infrastructure winners into laggards with cleaner revisions, especially if investors start demanding evidence of throughput monetization rather than just capacity additions.

DoorDash is the most interesting asymmetry because the business has multiple levers that are not fully reflected in near-term sentiment. Advertising, software, and merchant services can compound faster than order growth, which means the equity can re-rate even if core delivery is merely steady; that creates a path for margin expansion without needing a consumer boom. The risk is that the market keeps treating it like a cyclical consumer proxy, when in reality the bigger variable is take-rate mix and the pace of monetization per active user.

Coinbase remains the most fragile because it is effectively a leveraged expression of crypto beta plus trading activity, and both are currently under pressure. The real earnings risk is not just lower transaction revenue; it is operating leverage working in reverse if volumes stay weak for another one to two quarters. In contrast to the other two names, a durable reversal likely needs a sustained recovery in crypto prices and volatility, so the timing mismatch between stock support and fundamentals may persist for months.

Contrarian read: the market may be over-discounting the “headline disappointment” in AVGO while underestimating how much of the bad news is now already in the chart, but it may be underestimating how long COIN can stay depressed if crypto remains range-bound. For DASH, the consensus still assigns too much macro beta and too little platform optionality; that gap is where the best relative value may sit.

Key Decisions for Investors

• Long DASH vs short COIN for the next 1-3 months: DASH has multiple monetization catalysts independent of consumer macro, while COIN needs a crypto rebound to stabilize earnings. Risk/reward favors DASH if crypto remains weak and ad/merchant attach continues improving.
• Sell downside volatility in AVGO only after the post-earnings air-pocket stabilizes: consider short-dated put spreads 3-6 weeks out. The setup is for mean reversion if the market shifts from reaction to revised expectations, but avoid outright long stock until revision momentum bottoms.
• Initiate a tactical long in DASH on any additional 5-8% pullback over 2-4 weeks, with a 3-6 month horizon. The key thesis is mix shift into higher-margin software/ads, which can drive multiple expansion even if order growth decelerates.
• Stay underweight COIN until BTC reclaims a higher-volatility regime; if you want exposure, use call spreads 6-9 months out rather than stock. The equity needs both price recovery and volume recovery, so near-term upside is capped relative to macro risk.
• For AI exposure, rotate part of AVGO exposure into a basket of second-order beneficiaries rather than chasing the mega-cap re-rating. The trade is to reduce single-name guidance risk while retaining AI infrastructure beta.