From Nasdaq, Inc.: 2024-07-01 06:50:00

Cathie Wood, the founder of ARK Investment Management, has amassed a net worth of $220 million by investing in high-potential tech-based stocks and being recognized as the best stock picker of 2020 on Wall Street. ARK currently has $6.71 billion in assets under management and is preparing for a market rally in 2024-2025.

Coinbase, a cryptocurrency exchange, has been a significant focus for Cathie Wood due to its growth potential alongside Bitcoin. ARK holds a 7.8% share in COIN, and recent surges in Bitcoin’s value suggest positive momentum for Coinbase’s stock in late 2024 and 2025. Coinbase has also introduced innovative smart wallet technology.

Tesla, accounting for 8.1% of ARK’s total assets, remains a top pick for Wood despite recent struggles in the market. She predicts Tesla’s stock could grow by 1,350% by 2029, presenting a strong buying opportunity for investors. Despite a 20% decline in the first half of 2024, Wood believes in Tesla’s long-term potential.

Robinhood, a cryptocurrency-focused stock, has seen significant growth of 78% in 2024 and has more than doubled in value since Q3 2023. Wall Street analysts support Wood’s assertion that Robinhood is poised for growth, leading to recent upgrades in stock ratings. Like Coinbase, Robinhood’s exposure to the cryptocurrency landscape could result in strong performance following Bitcoin’s halving event.

Read more at Nasdaq MarketSite.: Cathie Wood Stocks 2024: A Look at Her 3 Biggest Wall Street Bets