Ark Invest Stock Portfolio: Top 5 Picks

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1. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 60

Weight as of September 27: 10.61%

Topping the list of Ark Invest’s top 10 stock picks is American electric vehicle manufacturer Tesla, Inc. (NASDAQ:TSLA). The diversified AI company is known for manufacturing and selling top-of-the-line self-driving electric vehicles. In addition, Tesla, Inc. (NASDAQ:TSLA) is also gaining momentum in its solar panel system and energy storage business.

In March 2021, ARK published research where the fund proposed a $3,000 price target for Tesla, Inc. (NASDAQ:TSLA). Meanwhile, Cathie Wood announced during a news briefing at the Morningstar Investment Conference on September 22 that she would most likely sell shares Tesla, Inc. (NASDAQ:TSLA) once it achieves her five-year target of $3,000 by the end of 2022, as reported by Bloomberg.

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9.29 billion in Tesla, Inc. (NASDAQ:TSLA), down from 62 in the preceding quarter worth $10.0 billion. 

You can also take a peek at the 10 Best Biotech Stocks Under $10 and 10 Cheap Pharmaceutical Stocks to Watch.

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