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Cathie Wood's Ark Innovation ETF (ARKK) Is Ripe For A Buy Under $100
Cathie Wood’s actively managed Ark Innovation ETF (ARKK - Free Report) has become the gold standard for high-growth equities. Investors are putting their faith in Cathie Wood's stock-picking abilities for their market-disrupting portfolio allocation after the incredible performance she displayed out of the depths of the pandemic.
The world moved digital adaptation up by 10 years in a matter of 10 months, as the global economy went mobile. This rapid digitalization combined with record-low interest rates drove ARKK's 4th Industrial Revolution-oriented holdings up an incredible 380% from its March 2020 lows to their highs in February, with Cathie making the bullish call of the decade on Tesla (TSLA - Free Report) .
On Friday, you could literally see investors flooding into this actively traded ETF with massive support coming in at $90 (representing a -44% decline from its February highs) on price confirming volumes of roughly 27 million (highest volumes since May and 6th highest volume day ever).
Ms. Wood has confidently said that the Ark Innovation ETF (ARKK - Free Report) will quadruple in value over the next 5 years, and with the fund now trading under $100 for the first time in over a year I see a rare opportunity to get diversified exposure to the nascent innovation of the next decade.