Is Intercontinental Exchange the Cathie Wood Stock for You?
Exchanges have been some of the better-performing financial stocks during the COVID-19 crisis. They're often safer in recessions because they take little to no credit risk, and their business doesn't suffer during market volatility because more trading activity typically results in more fees.
But exchanges still aren't associated with high growth, which is why it's interesting that Intercontinental Exchange (NYSE: ICE) shows up in three of Cathie Wood's exchange-traded funds. Wood is the founder and CEO of Ark Invest, whose investment philosophy focuses on finding "the leaders, enablers, and beneficiaries of disruptive innovation." As of Tuesday's close, Intercontinental Exchange was a top 10 holding in Ark's Fintech Innovation ETF.
Source Fool.com
