In the third quarter of 2021, the portfolio value of ARK Investment Management, a New York-based hedge fund run by Cathie Wood, fell by around $12 billion. The portfolio’s growth component, which includes several healthcare and technology businesses, has taken a hit. COVID-related supply chain bottlenecks and oil supply limits will likely be countered by inflationary pressures connected with artificial intelligence, electric vehicles, robots, genomic sequencing, and blockchain technology. Investors’ spending habits, many of whom are big believers in the “sharing economy,” as well as indications of a major flight from costly cities to cheaper ones, are cited. ARK Investment Management has boosted its holdings and made fresh purchases in a number of growth stocks priced for less than $10 per share. According to records for the second quarter, the fund purchased holdings in 50 new companies and sold out of 36 others between June and September.
Here is Insider Monkey’s list of the latest stock picks of Cathie Wood under $10. Zymergen Inc. reported $4 million in revenue, up 28 percent over the same period the previous year. Microbes for industrial applications are designed and engineered by this company. Zymergen was owned by ARK Investment Management, which owned 1 million shares worth $43 million. Dynamics Special Purpose Corp. is a California-based special purpose acquisition firm. Woodline Partners Karl, a California-based investment firm with 2 million shares worth more than $19 million, is a prominent shareholder among the hedge funds tracked by Insider Monkey. At the end of the third quarter of 2021, ARK Investment Management had 4 million shares of Quantum-Si Incorporated worth $49 million, accounting for 0.09 percent of the company’s portfolio. The firm owns and operates a platform for next-generation protein sequencing and genomics. Joby Aviation, Inc. is a firm that specializes in electric transportation. Morgan Stanley commenced coverage with an Overweight rating on the stock. At the end of September 2021, ARK Investment Management owned 1.1 million shares in Joby Aviation, valued at $11.8 million. The company provides wireless backhaul solutions. At the end of the third quarter of 2021, ARK Investment Management owned 1.5 million shares in Ceragon Networks Ltd., worth approximately $5.7 million and accounting for 0.01 percent of the company’s market cap. For more details, click Latest Stock Picks Of Cathie Wood Under $10.