Time To Dive Into Cathie Wood's Portfolio Stocks? Ark Founder Says They've 'Corrected Tremendously' And Due For Rebound
Portfolio Pulse from Shanthi Rexaline
Cathie Wood, founder of Ark Invest, suggests that stocks in the Ark Innovation ETF (ARKK) portfolio have significantly corrected and are poised for a rebound. Despite ARKK trading well below its 2021 peak, Wood believes that these stocks, which do not include the 'Magnificent Six', are showing earnings momentum and surprises on the upside. ARKK's top holdings include COIN, TSLA, ROKU, UI, SQ, and ZOOM, each with over 5% weighting in the ETF. ARKK ended a recent session up 1.01% at $47.1.
February 08, 2024 | 7:54 am
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POSITIVE IMPACT
ARKK, trading well below its 2021 peak, is expected to rebound according to Cathie Wood, driven by earnings momentum in its holdings.
Given Cathie Wood's positive outlook on ARKK's holdings showing earnings momentum, there's a strong potential for short-term price appreciation.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
As a top holding in ARKK, Coinbase Global Holdings, Inc. (COIN) may benefit from the ETF's expected rebound.
COIN, being a significant part of ARKK's portfolio, is likely to see positive price movement if ARKK rebounds as expected.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Roku, Inc. (ROKU), part of ARKK's top holdings, is positioned to gain from the ETF's expected positive trajectory.
Given ROKU's significant stake in ARKK, it stands to benefit from any positive movement in ARKK's price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Block, Inc. (SQ), among ARKK's top investments, could benefit from the ETF's expected rebound.
As a prominent holding in ARKK, SQ is likely to experience positive price movement if ARKK rebounds as anticipated.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Tesla, Inc. (TSLA), a major ARKK holding, could see a positive impact from the ETF's potential rebound.
TSLA's position in ARKK suggests it could experience upward price movement in line with ARKK's potential rebound.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
UiPath, Inc. (UI), a key holding in ARKK, may see a positive price impact from the ETF's anticipated rebound.
UI's inclusion in ARKK's portfolio positions it for potential gains alongside ARKK's rebound.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Zoom Video Communications, Inc. (ZOOM), a significant ARKK holding, is poised to gain from the ETF's expected rebound.
ZOOM's stake in ARKK suggests potential for upward price movement in line with ARKK's expected rebound.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80