TSLA - 2 Top-Notch Growth Stocks That Cathie Wood's Ark Invest Is Buying in January 2024
2024-01-25 07:15:00 ET
Ark Invest manages a raft of exchange-traded funds focused on disruptive technologies like artificial intelligence, fintech innovation, and next-generation internet. Its flagship Ark Innovation ETF soared by 67% last year, though it remains more than 70% below its peak.
Ark Invest is somewhat atypical among Wall Street institutions. Portfolio manager Cathie Wood and her team are focused on long-term capital appreciation and recommend an investment horizon of at least seven years. That stands out because Wall Street analysts often measure time in months. The combination of a technology-focused strategy and long-term mentality makes Wood an asset manager worth watching.
With that in mind, Ark Invest has been buying shares of Tesla (NASDAQ: TSLA) and MercadoLibre (NASDAQ: MELI) in January. For context, the firm has 6% of its total portfolio in Tesla and about 0.5% in MercadoLibre. Here's what investors should know about these top-notch stocks.
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2 Top-Notch Growth Stocks That Cathie Wood's Ark Invest Is Buying in January 2024