5 Best EV Stocks to Buy According to Cathie Wood

3. Baidu, Inc. (NASDAQ: BIDU)

Baidu Inc. makes software and applications for EVs. The company recently announced that they plan to establish an intelligent EV company and structured a strategic partnership with the car manufacturer Geely Automobile. Baidu Inc. currently has a $111.2 billion market capitalization. It delivered a spectacular 142.40% return in the past 12 months and was able to settle at $313 per share at the closing of February 12th.

Wood’s ARK Investment owns 2,260,776 Baidu shares that amount to $488.87 million. It is equivalent to 1.3% of ARK’s total equity. Here is what Cathie Wood has to say about Baidu, Inc:

“If I had to give you which of the Chinese names we have the highest conviction in, it’s probably Baidu, and that had been a hard sell for me because their research business was falling apart.”