5 Best Cathie Wood Stocks To Buy This Month

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As a researcher with a background in finance and experience following the stock market closely, I’ve been keeping an eye on Cathie Wood and her ArkInvest portfolio. Her daily updates and large following, especially since 2020, have made her a notable figure in the investment world. However, it’s important to note that while her picks have gained significant attention, they haven’t all yielded positive returns recently.

Cathie Wood, the CEO of ArkInvest, regularly updates her stock portfolio and has amassed a significant following since 2020. Despite substantial investments that year, more recent periods have resulted in negative returns. With the market recovering, there’s renewed interest among investors looking to secure quarterly gains. However, today the stock market took a hit before Nvidia reported its Q1 earnings, but investors remain vigilant. Here are the top five stocks favored by Cathie Wood this month:

Tesla (TSLA)

Cathie Wood owns Tesla shares in her investment collection, which have experienced significant gains recently due to heightened optimism. However, the stock took a dip by 3% in the past day as some investors weigh potential entry points after previous price swings. Currently trading at $180, Tesla’s stock has seen a weekly increase of 5% and a remarkable monthly growth of 24.49%.

Coinbase (COIN)

As an analyst, I’ve noticed that the largest cryptocurrency exchange in the United States has experienced notable inflows this quarter, fueled by a Q1 rally and surging Bitcoin prices. Currently, COIN trades at $231.51, representing a 5.7% increase over the past 24 hours. In the present week alone, Bitcoin has drawn in approximately 7% of new inflows.

Block (SQ)

Jack Dorsey’s payment company, Block (formerly known as Square), is gaining more users and is currently ranked high in the market. At the current moment, SQ shares are trading at $67.3, representing a 5% decrease. Despite this decline, the company surpassed expectations with $5.96 billion in Q1 revenues and remains a top pick for Cathie Wood.

Meta (META)

Meta Platforms experienced a turnaround and kept its positive momentum following an impressive Q1 2024 with robust revenues and optimistic forecasts for the remainder of the year, causing the stock to rise to $467.78, marking a 0.68% gain on the day. Despite a 1% dip this week, Meta Platforms has seen a remarkable 38% surge in the previous six months.

Robinhood (HOOD)

Robinhood has managed to draw in investments this year, even with a losing performance in the past 24 hours. The stock price currently stands at $16.96, representing a 6.2% decrease over the previous day. Over the past week, there has been a remarkable increase of 7% in trading volume, which has pushed monthly inflows above the $11 billion mark. The company surpassed expectations with its last quarter’s financial report.

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2024-05-23 08:57