My Favorite Cathie Wood Stock to Watch in February
Cathie Wood and ARK Invest have been crushed, particularly by high-growth stocks falling out of favor. However, many of the businesses that Wood and ARK love are still strong, and one of their favorites might be worth buying at this cheaper price.
With Coinbase Global (NASDAQ: COIN) down roughly 50% from its high, Wood took advantage of this drawdown to buy roughly $7 million of the stock. I (and ARK Invest, too) believe that the business could bounce back and potentially perform well over the next decade. I like its competitive advantages, its cash generation, and its growth opportunities, which is why I have my eye on this Cathie Wood favorite.
Image source: Getty Images.
Source Fool.com
