Cathie Wood Is Selling This Tech Stock, but Investors Shouldn't Miss the Bigger Picture
Noted investor Cathie Wood, the founder and CEO of Ark Investment Management, gained fame in 2020 thanks to her philosophy of investing in companies capable of disruptive innovation. All six of Ark's exchange-traded funds (ETFs) appreciated more than 100% during that year. The S 500, meanwhile, notched gains of just 16% in 2020.
However, Wood's flagship fund, the Ark Innovation ETF (NYSEMKT: ARKK), has lost 60% of its value since the beginning of 2021. What's more, Wood's fund has failed to recover substantially in the past year. It has recorded gains of just 20% as compared to the Nasdaq-100 Technology Sector index's 53% gains.
(NYSE: TWLO), which is the 15th-largest holding in the Ark Innovation ETF, has contributed to this underperformance with gains of just 17% in the past year. It is also worth noting that Wood's flagship fund has been consistently reducing its Twilio stake in 2024. That's not surprising given the cloud communications specialist's recent run of results.
Source Fool.com
Twilio Inc Stock
Our community is currently high on Twilio Inc with 16 Buy predictions and 3 Sell predictions.
As a result the target price of 67 € shows a positive potential of 24.24% compared to the current price of 53.93 € for Twilio Inc.
