Got $500? Consider These 2 Cathie Wood Bargain Stocks
Cathie Wood loves Coinbase (NASDAQ: COIN) and Robinhood (NASDAQ: HOOD). The market is negative on both stocks. Coinbase stock is down 10% this year, and Robinhood shares have lost 31% since the company went public. So why is Wood so bullish?
In a word, crypto. Cathie Wood is a famous Bitcoin bull. While Wood is extremely bullish on Bitcoin -- her public price target is $500,000 by 2026 -- she is also hedging her bets. And we know this because Coinbase is one of her funds' major holdings. Three of her funds have invested a combined $1.65 billion in Coinbase, making it the #3 holding after Tesla and Teladoc Health. Why is she so passionate for this stock? Coinbase is the place you go when you want to buy altcoins (i.e., Coins That Are Not Bitcoin). While Square only has Bitcoin on its Cash app, and Robinhood has only a handful of coins, Coinbase has over 120 different crypto coins you can buy.
Here's why Wood owns Coinbase and Robinhood.
Source Fool.com
