Ark Invest founder Cathie Wood had a great year in 2023. The flagship fund returned 70 percent this year, and according to CNBC, she has a number of stocks she's very confident about going into 2024.
In biotechnology, CRISPR therapeutics are the ones that investors trust the most. She believes the potential in the coming year will be great in the field of translational biology, which involves the use of biological data from a number of technologies, including genomics and proteomics.
Wood commented that the FDA recently approved the first gene technology therapy developed by CRISPR Therapeutics and Vertex Pharmaceuticals to treat severe sickle cell disease.
CRISPR is one of the largest investments in the Ark Innovation ETF, with a weight of about 4 percent. The stock has risen about 57 percent this year.
An increase of 31 percent in November
In November, Wood's flagship fund was up more than 31%, the best month since its inception in 2014. The portfolio made a real return towards the end of the year as a result of the market now anticipating lower interest rates in the future. years and that interest rate cuts could come in 2024.
This has stimulated growth in stocks in particular, to which Wood has significant exposure.
Wood is also said to have said that Coinbase is one of the most positive investments for her. The cryptocurrency exchange has become ARKK's largest investment, accounting for nearly 11 percent of the fund, after rising nearly 400 percent in 2023.
Woos is also very bullish on Tesla, the stock price has been up this year and she reportedly sold some shares to increase her positions in UiPath, Zoom, Roku, Block, and Roblox, among others.
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