Nasdaq has recovered from its bloodshed months in February and March; however, the rising tide to lift all boats didn’t play out too well. While most of the large cap tech stocks such as Apple and NVIDIA have recovered in my Growth Portfolio, the mid cap stocks, which have no bottom-line, continue to underperform.
There haven’t been any new additions in my portfolio other than shares of the ARK Genomic Revolution ETF (ARKG). Cathie Woods, the brain behind Ark Invest, rose to fame last year after predicting Tesla would be a multibagger. The resulting 695% returns in Tesla’s shares made Woods into an investment celebrity overnight, and followers have intently taken her market predictions as gospel. In one of her interviews, she claimed that the next Tesla could come from the genome sector, which exploded into an overnight sensation after her novice followers jumped onto the gene-editing bandwagon.
However, when these...