Growth investors that made money off the market upheaval caused by technology at the height of the pandemic have had a terrible 2022 thus far. Rising interest rates and inflation trigger fears of an impending recession, driving investors away from growth stocks. The flagship ARK Innovation ETF has experienced a loss for eight consecutive months. As deflationary pressures mount, some of the top stocks to keep an eye on are Tesla, Sea Limited, and Amazon. The S&P 500 Index gained 1.7 percent this month while the ARK Innovation Fund increased by over 18 percent. The fund has received close to $2 billion in inflows so far this year.
Insider Monkey highlights the 10 stocks to watch as Cathie Wood’s fund starts to rebound. Robinhood Markets, Inc. owns and operates a financial services platform. At the end of the first quarter of 2022, ARK owned roughly 33 million shares of Robinhood valued at $337 million, or 1.99 percent of the portfolio. Genome editing is what Intellia Therapeutics, Inc. does. The business said that NTLA-2001, an investigational in vivo gene editing therapy, had been shown to have a long-lasting therapeutic impact over a 12-month period in transthyretin amyloidosis in late June. At the end of March 2022, the hedge fund Wood chairs held $455 million worth of Shopify Inc. shares, or 2.69 percent of the value of ARK’s 13F portfolio. On June 1, the company released financial results for the first quarter of 2022, showing revenue of $245 million, an increase of more than 31% over the same period the previous year. UiPath Inc. was added to the analyst coverage at Canaccord with a ‘Buy’ rating and a $25 price target. For more details, click 10 Stocks To Watch As Cathie Wood’s Fund Starts To Rebound.
