2 Growth Stocks Have Cathie Wood's Ark Invest Betting Big in 2024
Cathie Wood, founder and CEO of Ark Invest, has become a famous figure in the financial world. Her asset management company eschews traditional investment strategies, which often seek short-term gains in safe benchmarks. Instead, Ark focuses on long-term capital appreciation created by disruptive technology companies.
Specifically, Wood and her team run six thematic index funds constructed around innovative technologies such as automation, the blockchain, fintech, and robotics. Collectively, those funds have $16.5 billion invested across 122 companies. But more than 15% of that total was invested in just two stocks at the end of December:
The flagship Ark Innovation ETF has outperformed the S&P 500 (SNPINDEX: ^GSPC) by about 20 percentage points since its inception in 2014. That market-beating performance is particularly impressive, given that the fund currently trades 67% below its all-time high.
Source Fool.com
