Here's My Top Cathie Wood Stock Right Now
Although Cathie Wood's flagship fund, the Ark Innovation ETF (NYSEMKT: ARKK), is down by about a third in 2022, it has performed extremely well over the past five years, returning nearly 170%. Focusing on businesses harnessing innovative technologies to disrupt entire industries has proven to be a worthwhile strategy.
The exchange-traded fund (ETF) purchased roughly 300,000 shares of Coinbase (NASDAQ: COIN) this year, signaling the firm's bullishness on the volatile cryptocurrency company's prospects. I think individual investors would be wise to follow these moves.
Here's why Coinbase, which is the Ark Innovation ETF's fifth-largest holding, is my favorite Cathie Wood stock.
Source Fool.com
