In this article, we delve into Cathie Wood’s investment choices for the year 2024. Recently, there has been discussion about the performance of ARK ETF Trust, which saw a substantial decrease in shareholder value over the past decade. Questions have also arisen regarding Cathie Wood’s decision to sell Nvidia in January 2023, just as the AI industry was booming. Despite missing out on Nvidia’s impressive rally, Wood remains steadfast in her investment approach, citing Nvidia as an easy and expensive choice. In a tweet from May 2022, Wood expressed her belief that Artificial General Intelligence (AGI) would revolutionize the global landscape.
Despite some missteps, ARK Innovation’s flagship ETF, ARK Innovation exchange-traded fund ($ARKK), experienced a significant 70% rally in 2023, marking one of its best performances since inception. This strong showing may be one reason why investors continue to support ARK funds, despite occasional setbacks. Cathie Wood’s investment strategy typically looks ahead at least five years, appealing to patient investors who are willing to wait for her bold and forward-thinking bets to pay off.
Examining Wood’s portfolio for 2024, we see a focus on innovative companies such as Nano-X Imaging Ltd. (NNOX), Pagaya Technologies Ltd (PGY), Inmode Ltd (INMD), Pure Storage Inc. (PSTG), SoFi Technologies Inc. (SOFI), and Nextdoor Holdings Inc. (KIND). These stocks have seen increased interest from ARK Investment Management, with Wood either increasing stakes or initiating new positions in these companies. Each company presents unique growth opportunities and aligns with Wood’s vision for the future.
While some may question Wood’s choices, her long-term perspective and commitment to disruptive technologies continue to drive her investment decisions. As the market evolves and new opportunities emerge, only time will reveal the outcomes of Cathie Wood’s strategic investments for 2024.