Cathie Wood’s Top Growth Stocks for 2024
1 min read
Cathie Wood, the renowned investor, and founder of Ark Invest has identified two growth stocks that could potentially soar in 2024. These stocks are 908 Devices (NASDAQ: MASS) and Beam Therapeutics (NASDAQ: BEAM). Wall Street analysts have given these stocks noteworthy price targets, implying upside potentials of 49% and 65%, respectively.
908 Devices specializes in creating novel devices for analyzing chemicals and biomolecules. The company leverages its unique mass-spectrometry technology, which can quickly and accurately detect molecules from complex samples. The company’s devices can be used for various purposes, such as drug development, bioprocessing, forensic investigation, and threat detection, among others.
Beam Therapeutics is a biotechnology company that focuses on developing gene-editing technologies. The company’s goal is to create precise and efficient gene-editing tools that can be used to treat genetic diseases.
Both of these stocks are in the early growth phase of their life cycle, and it may take some time for them to generate substantial free cash flows regularly. However, the potential upside for investors who are willing to take on the risk is significant.
In conclusion, Cathie Wood’s top growth stocks for 2024 are 908 Devices and Beam Therapeutics. These stocks have the potential to soar, but investors should carefully consider the risks involved before making any investment decisions.
