NEW YORK—Star stock picker Cathie Wood of Ark Invest remained bullish on top holding Tesla Inc on Tuesday despite growing fears of a U.S. recession and shutdowns of the car maker’s Shanghai factory due to spiking coronavirus cases.
“What we said during COVID about innovation solving problems will move into overdrive,” she told a webinar, with Tesla poised to “deliver truly exponential growth for many, many years” as it expands its autonomous driving programs.
Wood’s bullish stance on technology comes as yields of two-year Treasuries have moved above those of 10-year Treasuries in recent weeks, which is often considered a precursor to a recession.
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