3 Fintech Stocks Cathie Wood Is Betting On
It wasn't long ago that Cathie Wood was one of Wall Street's most celebrated investors. Wood is best known for investing in disruptive, innovative companies with high growth potential. From the start of 2020 to its peak in February 2021, Wood's ARK Innovation ETF (NYSEMKT: ARKK) gained over 230%.
Since then, the fund has dropped 70% as inflationary pressures and rising interest rates weigh on many growth stocks. Despite this, the fund continued to attract investors and brought in $1.5 billion in investor funds in the first half of 2022. Included in this fund are three fintechs: Robinhood Markets (NASDAQ: HOOD), Coinbase Global (NASDAQ: COIN), and Block. (NYSE: SQ). Let's find out a bit more about these three fintechs that Cathie Wood's investment firm is betting on.
Robinhood's goal is to make investing available to everyone. The online trading platform was one of the first to introduce commission-free stock trading, which many others in the industry have since copied. However, its revenue model -- called payment for order flow (PFOF) -- has come under scrutiny from regulators.
Source Fool.com
