Cathie Wood Has 12% of Ark Invest's Portfolio Invested in 2 Growth Stocks
Cathie Wood's Ark Invest had a good 2023. Its flagship Ark Innovation ETF soared 68%, easily outpacing the three major U.S. financial indexes. In positioning itself for 2024, the firm has 12.8% of its portfolio allocated to just two stocks: (NASDAQ: TSLA) accounts for 6.2% of invested assets, and Coinbase Global (NASDAQ: COIN) accounts for 6.6%.
Here's what investors should know about these growth stocks.
The investment thesis for Tesla centers on its strong market presence in battery electric vehicles and its opportunities with adjacent artificial intelligence (AI) software and services. Tesla accounted for an industry-leading 19.2% of battery electric vehicle sales through November 2023. Price cuts have crushed its once industry-leading operating margin, but profitability should rebound as interest rates decline, Cybertruck production scales, and Tesla leans into software and services.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 73 Buy predictions and 28 Sell predictions.
As a result the target price of 245 € shows a positive potential of 21.08% compared to the current price of 202.35 € for Tesla Inc.
