Source: Zhitong Finance
ARK Invest founder “Sister Wood” Kathy Wood recently touted $Zoom Video Communications (ZM.US)$ , saying that the company’s stock price could reach $1,500 by 2026, which is equivalent to more than 13 times the current stock price, which means Its compound annual growth rate is 76%. Shares of Zoom were trading at $110.4 at press time. Casey has been bullish on Zoom, and she even predicted the stock could rise to $2,000 in a bull market and $700 in a bear market.
It is understood that Zoom rose to an all-time high of $588.84 at the peak of the outbreak in October 2020, but has since declined and has plummeted by 80%.
Currently, ARK’s largest holding company is Zoom. Casey has two actively managed funds with the largest portfolio weight in Zoom, one of which is the flagship fund ARK Innovation ETF, with a weight of 9.49%, equivalent to a market value of $856.57 million. Another fund is ARK Next Generation Internet ETF, with a weighting of 8.14% and a market value of $130.73 million.
Data show that year-to-date, these two funds have fallen 52.6% and 51.1% respectively.
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