From NASDAQ MarketSite: 2024-05-28 10:04:52

Cathie Wood, CEO of ARK Invest, remains influential in the market with her focus on disruptive technologies. Her flagship fund, ARK Innovation ETF (ARKK), has seen volatility, currently down 12% YTD. Despite this, Wood is staying committed to companies with innovative technologies.

Following SEC approval for spot Ethereum ETFs, Coinbase Global (COIN) stock rose 9%. Coinbase’s strong Q1 financial results, with EPS of $4.40, show a 303% increase in profits compared to analyst expectations. COIN stock has surged 318% in the last year, making it a significant position in the ARKK fund.

Robinhood Markets (HOOD) is benefitting from increased crypto trading, posting record Q1 financial results. EPS of 18 cents surpassed forecasts, driven by a rise in crypto trading revenue. HOOD stock has risen 139% in the last 12 months, making it one of Cathie Wood’s top positions in the ARKK fund.

Meta Platforms (META) is one of Wood’s best-performing tech stocks, rising 89% in the last year. Despite concerns about increased spending, Meta remains strong, declaring its first-ever dividend this year. META stock is up nearly 40% YTD, showcasing its resilience in the market.

Read more at Nasdaq: If You Can Only Buy One Cathie Wood Stock in May, It Better Be One of These 3 Names