Investors may have concerns about the drop in first-quarter gross domestic product, but it isn't necessarily worrying Collins Capital's Dorothy Weaver.
Although the estimate is a reflection of the fact that the U.S. is in a slow-growth environment, investors just have to know where to look for strategic opportunities, she told CNBC's "Power Lunch."
"As much as we would like to see growth kick in, it is going to, I think, continue to be a slow growth environment," said Weaver, who was once the chair of the Federal Reserve Bank in Miami.
The U.S. economy shrank at a steeper pace than previously estimated in the first quarter. Gross domestic product fell at a 2.9 percent annualized rate, instead of the 1.0 percent pace the Commerce Department announced last month.