After a tough 2022, this year has been a much better one for growth stocks. That's evident just by looking at Ark Invest's Ark Innovation ETF, which is up by more than 40% since the start of January. The benchmark ETF from Cathie Wood's investment firm is full of growth stocks that have been flying high this year, including DraftKings (NASDAQ: DKNG), Coinbase Global (NASDAQ: COIN), and Roku (NASDAQ: ROKU). Year to date, all three Cathie Wood stocks have more than doubled in value.

Is the hype surrounding these three stocks legitimate? Should investors continue buying up these investments, or are they in danger of running out of steam?

One of the hottest stocks this year has been DraftKings. The sports betting company is thriving, its sportsbook is live in more U.S. states, and its fantasy sports platform is available in most parts of the country.

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Source Fool.com