Cathie Wood's Latest Investment Picks: Palantir, Tesla, and Intellia Therapeutics

In the world of growth investing, Cathie Wood remains a prominent figure, particularly after her standout success in 2020 with Ark Invest's exchange-traded funds. She continues to be a strong market player after a significant rebound in 2023, following a period of underperformance. Despite a rough beginning to the current year, Wood actively trades public equities, with her latest buys readily visible each day.

The recent shopping list for Wood includes augmenting her stakes in Palantir, Tesla, and Intellia Therapeutics. These companies are at the center of recent market activities and hold a unique interest for Wood's investment strategy.

Palantir

Known for purchasing on downturns, Wood made an exceptional move by buying Palantir shares on a surge. The AI-focused software company reported impressive financial results that led to a 31% stock surge. With 20% revenue growth and its fifth profit-reporting quarter outpacing Wall Street expectations, Palantir has more than tripled its stock value since last year's beginning.

Originally a government contractor, Palantir has seen substantial commercial revenue growth—up by 70% this quarter, signifying over a fifth of its total revenue. Furthermore, Palantir forecasts solid revenue growth for the current year, following a 17% overall rise in 2023.

Tesla

2024 has been challenging for Tesla's stock, which has dropped significantly from its peak. Financial results and vehicle price cuts have not aided the situation. On top of these challenges, concerns over corporate governance and potential layoffs have come to light, stirring investor worries. These issues notwithstanding, Wood has maintained Tesla as Ark Invest's second-largest holding.

Intellia Therapeutics

Wood's penchant for taking larger stakes in smaller companies is evident with Intellia Therapeutics. Despite its modest market capitalization and a cash-positive, low-debt status, Intellia is in the early stages of developing its gene-editing therapies. Stifel recently cut its target price for the stock, citing operation streamlining and potential project cutbacks. Nevertheless, the stock's current low valuation suggests a significant upside if it were to achieve its price targets.

While there are risks associated with these investments, the ongoing adjustments to Wood's portfolio highlight her continued commitment to growth stocks and her belief in the long-term prospects of her chosen companies.

Investing, Stocks, Growth