ARKQ - 2 Under-the-Radar Nasdaq Stocks Cathie Wood Loves Right Now
The Nasdaq Composite (NASDAQINDEX: ^IXIC) is a hotbed of innovation, and the bull market in disruptive stocks in 2020 helped give the Nasdaq one of its best years ever. Recently, though, the Nasdaq's rise has taken a bit of a pause, and on Tuesday afternoon, the index was down a fraction of a percent as of 1 p.m. EDT.
ARK Invest's CEO and chief investment officer, Cathie Wood, has gotten a lot of notoriety for her stock picking prowess over the past year, largely because she's embraced some of the best stocks on the Nasdaq. Tesla (NASDAQ: TSLA) is the best-known of Wood's top picks, and odds are you already know as much as you want to know about the electric vehicle specialist. However, some other Nasdaq stocks aren't as familiar to ordinary investors even though they have their own opportunities to soar in the years ahead. Below, we'll look at two of the stocks you'll find prominently among ARK Invest exchange-traded fund (ETF) holdings that probably haven't made it onto your radar screen.
Trimble (NASDAQ: TRMB) isn't a new company, but it has quickly become one of Wood's favorite picks. The stock is the third-largest position in ARK Invest's Autonomous Technology & Robotics ETF (NYSEMKT: ARKQ) , making up more than $180 million at recent prices. That's not a huge amount by ARK's standards, but it gives the fund manager a 1% stake in Trimble.
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2 Under-the-Radar Nasdaq Stocks Cathie Wood Loves Right Now