2 Top-Notch Growth Stocks That Cathie Wood's Ark Invest Is Buying in January 2024
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 (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.
Source Fool.com
Mercadolibre Inc Stock
The stock is an absolute favorite of our community with 29 Buy predictions and no Sell predictions.
On the other hand, the target price of 1853 € is below the current price of 1868.6 € for Mercadolibre Inc, so the potential is actually -0.83%.
