Last Updated on May 18, 2023 by Mathew Diekhake
It’s not such an easy call to make for those who are already invested in the market since their stocks may have dropped considerably over the past 14 months, but if you have been on the sidelines, now is an excellent time to invest in ARKQ — Cathie Wood’s autonomous tech ETF.
There are two things I’m undoubtedly bullish on going forward: green tech and autonomous tech. The green tech encompasses renewable energy stocks such as Enphase and the autonomous tech is referring to the AI stocks such as UiPath.
It’s almost a unanimous decision among asset managers that AI is the next big thing in investing. They all say the impact AI will have is going to be huge. And it’s the reason we see stocks such as Microsoft, Amazon, and Google all rise lately. But those aren’t growth stocks. In general growth stocks are still down in this bear market. ARKQ is an ETF that includes Cathie Wood’s best AI growth choices and it’s still a long way down from its lows of 2021 where it reaches a peak price of $100.92 or thereabouts. Today the ARKQ fund is priced at $47.01 after its low of roughly $39.17 in December of 2022.
See also: AI May Not Benefit Google and Microsoft Stock as Much as Assumed