10 Tech Stocks to Sell Now According to Cathie Wood

4. Oddity Tech Ltd. (NASDAQ:ODD)

Percentage of stake sold by ARK Invest in Q3: 100%

ARK Investment Management’s Q3 Stake Value: $0

Number of Hedge Fund Holders: 18

Oddity Tech Ltd. (NASDAQ:ODD) is a consumer technology company that builds digital-first brands for the wellness and beauty sectors, both domestically and abroad. Under the SpoiledChild and IL MAKIAGE brands, the company offers skin, hair, and beauty products. The company also runs a biotechnology center called ODDITY LABS to create various ingredients for its products.

Goldman Sachs began coverage of Oddity Tech Ltd. (NASDAQ:ODD) shares earlier in December, assigning a 12-month price target of $48 and setting a Neutral rating on the stock. The firm highlighted Oddity Tech’s potential for robust double-digit growth and its status as a disruptor in the upscale beauty sector.

Moreover, during its third quarter 2024 earnings call, Oddity Tech Ltd. (NASDAQ:ODD) revealed a staggering 27% year-to-date revenue increase, hitting the $523 million mark. The company’s IL MAKIAGE and SpoiledChild brands, along with a strong direct-to-consumer business strategy, were the main drivers. Due to an increase in order frequency, the average order value also increased by 9% year-over-year. Additionally, the company’s gross margin, which was slightly better than expected at 69.9%, is expected to normalize to roughly 68% in Q4.