Cathie Wood began 2023 with a bang. Wood added to her existing stakes in Toast (NYSE: TOST), Unity Software (NYSE: U), and The Trade Desk (NASDAQ: TTD) on Friday, part of the five established positions that she was buying. Toast has given its investors some indigestion this month.
The value proposition of Toast (NYSE: TOST) continues to draw restaurants and investors alike. The fintech company's focus on the restaurant industry's specialized needs has made it competitive against larger companies like Block, which has sought to become the fintech company of choice for businesses. Despite that history, the fintech stock likely deserves a closer look, and here's why.
If you have an extra $1,000 sitting around in cash, three Motley Fool contributors believe Toast (NYSE: TOST), Roku (NASDAQ: ROKU), and MercadoLibre (NASDAQ: MELI) have the makings of long-term winners. John Ballard (Toast): As Shopify has proven in recent years, there is a massive growth opportunity in supplying cloud-based software to help businesses stay competitive in a digitized economy. Toast is following in Shopify's footsteps, providing an industry-specific platform for restaurants, and its recent growth suggests the stock could be a long-term winner.