Cathie Wood's Ark Invest Has 14% of Its Portfolio Invested in 2 Growth Stocks
Cathie Wood is the lead portfolio manager at Ark Invest, an asset management firm that runs a series of thematic index funds focused on disruptive technologies, everything from artificial intelligence and robotics to blockchain and DNA sequencing.
Wood ranked among Wall Street's most successful stock pickers in 2020, the year her flagship Ark Innovation ETF soared 149%, trouncing the 16% return in the S 500 (SNPINDEX: ^GSPC). To be fair, she lost some of that credibility when the fund badly underperformed over the next two years, but investors may not realize Ark has regained some momentum. The Innovation ETF has advanced 60% since January 2023, topping the 36% gain in the S 500.
With that in mind, Ark had 14.4% of its portfolio spread across two stocks as of March: (NASDAQ: TSLA) accounted for 6.5% of invested assets, and Coinbase Global (NASDAQ: COIN) accounted for 7.9%. That position sizing suggests that Wood and her team have a great deal of confidence in both companies.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 55 Buy predictions and 26 Sell predictions.
With a target price of 248 € there is a hugely positive potential of 51.18% for Tesla Inc compared to the current price of 164.04 €.
