Cathie Wood’s ARK ETF has recently made some notable shifts in its focus by purchasing stocks of AMD and DraftKings. These moves come as part of the ETF’s strategy to capitalize on potential growth opportunities in the market.
AMD, a semiconductor company, is seen as a promising investment by ARK ETF due to its strong performance in the tech sector. With the increasing demand for high-performance computing and gaming, AMD’s stock is expected to continue rising.
On the other hand, DraftKings, a sports betting and online gaming company, has also caught the attention of ARK ETF. As the legalization of sports betting continues to spread across the US, DraftKings is well positioned to benefit from this trend.
These stock purchases reflect ARK ETF’s proactive approach in seeking out innovative and high-growth companies to invest in. By diversifying its portfolio with companies like AMD and DraftKings, Cathie Wood’s ARK ETF aims to maximize long-term returns for its investors.