Ark Invest’s Cathie Wood says digital wallets and genomics are two of the next biggest disruptive trends after Tesla and electric vehicles.
“We are very happy with digital wallets,” Wood said on CNBC on Tuesday (13/4) yesterday.
“We really think that digital wallets and this two-sided marketplace, merchants and consumers … will take over the many roles that banks are playing today.”
Cathie has made a name for herself by investing in “disruptive innovation” stocks. Wood’s flagship fund, ARK Innovation, has seen more than $ 16.7 billion flood into the fund in the last year, according to FactSet.
Wood Has Investments in Square and PayPal
Wood has big bets on names like Square and PayPal, which dominate the digital wallet space. Square is the second largest holding in Ark Innovation, representing over 7% of the ETF.
In China, Wood said WeChat Pay and AliPay were the main players.
“Being digital, getting more mobile. A little bank branch in your pocket, “Wood said.” We will provide all kinds of financial services through them, including loans, debit cards, credit cards, stock purchases, bitcoin purchases. ”
Elsewhere, Wood said the genomic space is also set to reach. speed of release.
“DNA sequencing will introduce science into health care decision making for the first time,” said Wood. “We can honestly say that to date more than half of all health care decisions are made partly through conjecture or experience. Now we’ll have the data. ”
The Genomics ARK ETF has a big bet on Exact Sciences, which makes up nearly 5% of the ETF, and Invitae. CRISPR Therapeutics is another major shareholder in the ETF.
“We will be able to cure diseases we never thought possible, including cancer,” said Wood.
ARK Innovation shares are up 2.5% this year and ARK Genomic Revolution shares are up less than 1% in 2021.
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