Tesla- Top 3 Stocks Cathie Wood Bought for ARK Invest - Part 2

  We continue our series titled "Cathie Wood's 3 biggest stocks for ARK Invest". In this episode, we will talk about Tesla, one of the shares that Cathie Wood, the founder of ARK Investment Management, bought in last week's technology sale.

2- Tesla

Tesla (NASDAQ: TSLA), one of the biggest winners of 2020, earned more than 743 % during the year. This made Company a permanent favorite for Wood. ARK Next Generation Internet (NYSEMKT: ARKW) ETF management has invested in Tesla, adding 10 % of its 6.93 billion assets to its portfolio. The Company has been leading the electric vehicle revolution since last year. Profitable in each quarter, the company showed profitability for six consecutive quarters.

Top 3 Stocks Cathie Wood Bought for ARK Invest - Part 2

The electric vehicle manufacturer participating in the S&P 500 index has very close to its target of delivering 500 thousand vehicles with 499 thousand 550 vehicles. The idea of ​​reaching this number was almost unthinkable until just a year ago. The high valuation of the stock since the beginning of this year has caused it to lose almost a third of its value in the last decline. Nothing has changed in the long-term investment thesis. However, Tesla has become a new favorite for Wood.    

Source: The Motley Fool

 

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