A Look at Stocks Cathie Wood Owns. A Buy Now, Sell or Trade?
Here are some stocks the ETF owns that you can trade or invest in for the short term.
avatar
Precious Njoku is a Financial Writer with extensive knowledge about the stock market.
2022-02-27 11:16

With Cathie Wood as CEO, ARK Invest Company made considerable gains in 2020 following the stock market’s gains. Its flagship fund, the ARK Innovation ETF (ARKK),invests only in companies that show promise of being a “disruptive innovation.” a product or service that has the potential to change the way we see the world using technology as an enabler.
A Look at Stocks Cathie Wood Owns. A Buy Now, Sell or Trade?
The ARK Innovation ETF has a growth of more than 152% in 2020, and by this, it beat the NASDAQ hands down, which only grew by 43.6%. But the story was different in 2021 when the ETF sharply underperformed the NASDAQ. By 2021, ARKK finished 24% in the negative while the NASDAQ rose 21.4%.

Here are some stocks the ETF owns that you can trade or invest in for the short term. I recommend trading these stocks because they've been seeing massive volumes lately. And most of them are away from their all-time highs. However, if I see any pointer towards long term investing in these stocks, I would review my stand soon enough.

1. Coinbase IPO

Coinbase ($49.35|-3.58%) is a cryptocurrency exchange that debuted on April 14 with a price of $250 a share. Its first day of trading saw the stock rise by 31.3% to $328.28 for a market cap of $87.3 billion. Currently, the stock is trading at 40% above its IPO highs. Still, recently the shares have been falling due to the enormous selloff in the stock market that also affected cryptocurrency exchanges.

With its stake in Coinbase, ARKK ETF has extensive exposure to cryptocurrencies.

2. DraftKings Stock

One of the popular online sports platforms that users can play online fantasy games with the opportunity to win cash prizes is DraftKings (NASDAQ: DKNG). Recently, digital sports betting has been legalized in the U.S, and the legalization is expanding into several states. Draftkings is poised to take advantage of this trend. Presently, DraftKings is below their 52-week highs.

The stock rose sharply by 11.2% this week.

3. Zoom Video Stock

One of the leaders in modern videoconferencing and video communications for both businesses and private use is Zoom Video (NASDAQ: ZM). The company provides a cloud platform for audio and video conferencing, webinars, chats, and other integrated apps that cut across different devices like desktop, mobile, and room systems.

Zoom video stocks tumbled on November 23 after the company reported revenues and earnings that just edged by estimates. This was disappointing because there was a high turnover of small business customers. In addition, many investors sold off their zoom stocks because of the slow billing growth.

This week, the Zoom stock was up 6%.

4. ROKU stock.

Roku stock (NASDAQ: ROKU) has fallen by as much as 75% from its 52-week highs. The company has been experiencing sharp weaknesses in recent months. This was exacerbated by a video streaming spat between the company and Alphabet Inc. But on December 8, that disagreement was ended when both companies signed a multi-year distribution deal that encompasses the Youtube app and the Youtube TV app.

Roku stock has held steady since December.

5. Block Inc.

Block (NYSE: SQ) is a cryptocurrency and digital payments leader. But the stock is 65% below its 52- week high, and signals say it might go lower. But according to the IBD stock checkup, Block stock is well below the 50th percentile, which is a sign of extreme weakness, mainly when there is a significant selloff in the markets. The IBD composite rating measures how qualitative the fundamental and technical stock metrics are.

Block stock was down 5% this week.

6. Tesla

Tesla ($684.06|-2.00%) is ARKK’s principal focus and portfolio. As a result, it has a weighting of 7.7% among ARKK’s stocks. But Tesla has been skidding lately, and many analysts say it is still consolidating. With Elon Musk as the CEO, Tesla is a maker of electric vehicles, battery energy, solar panels, and other components for clean energy both in the home and offices.

Cathie Wood has set a five-year price target of $3,000 for Tesla stock, although it is presently trading at $800.77.

What do you think about these stocks? Would you add them to your portfolio soon?


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Rate this article

positive
negative
Published On
2022-02-27 11:16

avatar
About the Author
Precious Njoku is a Financial Writer with extensive knowledge about the stock market.

$49.35
-$1.83-3.58%
Perf. YTD-83.30%
52W high-86.62%
52W low20.87%
PE Ratio5.06
MKT Cap12.9B
Other:  DKNG , ZM , ROKU , SQ , TSLA

Analyst Ratings
Target Price$136.83
# of Analysts23
Last updated2022-06-28

buy-coffee
You've read 1 article in the last year
..thank you for supporting us and for visiting our site. Unlike many other sites, The Dog of Wall Street is available for everyone to read. Our focus is to provide great content for free. Do you like what we are doing? Buy us a cup coffee. It is the fuel that keeps us going..

Two Companies With Dividend Increases Despite The Current Recession
This article will highlight two dividend stocks that announced dividend increases this year. It would be best if you considered them in your portfolio.
By Precious Njoku | 1 week ago

A Shocking Discovery About Coinbase and How Coinbase is Faring This Year
Coinbase's fortunes' are tied to cryptocurrency prices, which have been falling. Investors are shy of buying Coinbase (NASDAQ: COIN). The challenges the company faces this year are many but it is preparing for a rebound.
By Precious Njoku | 1 week ago

Will Redbox Squeeze Again?
Redbox went public via a SPAC merger back in October of 2021.
By Mike Sakuraba | 1 week ago

Jabil stock down 10% on Q3 results
Jabil reported its fiscal Q3 results on Thursday. Shares closed roughly 10% down.
By Khan | 1 week ago

AMD Is Still Resilient Despite Global Supply Chain Disruptions Persist
Since 2021, the semiconductor industry has been experiencing chip shortages. But the AMD CEO, Lisa Su, stated recently that the company foresaw the present industry problems.
By Precious Njoku | 2 weeks ago

You May Be Affected By Russia's Retaliatory Sanctions If You Hold These Stocks
In retaliation, Russia has sanctioned personalities and businesses from corporate America like Netflix, Delta Airlines, and Blackrock. Russian sanctions will not have any effect on these companies.
By Precious Njoku | 2 weeks ago

3 Under the Radar Metaverse Stocks
Let’s take a look at some under the radar ways to invest in the Metaverse.
By Mike Sakuraba | 2 weeks ago