Promising Cathie Wood Stocks To Watch Out For
Highlights
- Cathie Wood stocks gained ground in the market this week.
- Coinbase wiped out previous weekly losses as crypto prices fluctuated.
- Block Inc. and Tesla record growth as inflows trickle in.
Several Cathie Wood stocks have soared showing signs of a price breakout. The stock market is influenced by inflows, demands, and institutional sentiments. Crypto also shows a slight rebound rising above asset prices in the last seven days.
Over the years, ArkInvest, and Cathie Wood stocks have gained popularity with massive surges in previous years. These highs have soaked interest in many traders because of the public nature of holdings, sales, and other related activities. This year, the stock market gained momentum on the back of the tech drive leading to increased prices. Here are some Cathie Wood stocks to watch out for.
Block Inc (SQ)
Jack Dorsey-backed payment firm Block is among Cathie Wood stocks gaining momentum among traders. A major driver of the asset is the expansion project of the company to reach more users. In the last 24 hours, SQ is up 1.74% exchanging hands at $64.49. Weekly figures also stood in the green zone despite fluctuations in mid-week. This new positive outlook for Block comes amid previous bearish sentiments. This year, the asset’s price is down 10.7%.
Coinbase (COIN)
Digital asset exchange Coinbase remains a top-ranking Cathie Wood stock and has attracted bulls in the last six months. Coinbase showed potential this week to wipe out previous losses as the cryptocurrency market wobbled. The asset soared over 2.5% this week although daily trading saw red zone levels. This year, COIN is up 28% after its price skyrocketed in Q1 2024.
A major drive of Coinbase is the price of Bitcoin and other digital assets. Anticipated flip in the market should macro factors turn can spur another uphill climb for the COIN.
Tesla (TSLA)
The stock of electric car manufacturer Tesla has surged in recent months in an attempt to erase year-to-date losses. TSLA notched 0.23% today and 7% growth in the last seven days. Monthly numbers were up 12% as inflows picked up after a bearish phase.
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