Cathie Wood sees these 2 trends as the next big things after electric vehicles
Ark Invest’s Cathie Wood said digital wallets and genomics are the next two biggest disruptive trends after Tesla and electric vehicles.
“We’re very excited about digital wallets,” Wood said on CNBCs.The news with Shepard Smith “ on Tuesday. “We really believe that these digital wallets and two-way marketplaces, merchants and consumers … will play a large part of the role that banks are playing today.”
Wood – CIO and CEO of Ark Investment Management – made a name for herself by investing in stocks with disruptive innovation. Wood’s flagship fund, ARK innovationAccording to FactSet, more than $ 16.7 billion went into the fund last year.
In China, Wood said, WeChat Pay and AliPay are the main players.
“It’s going digital, it’s going mobile. A little bank branch in your pocket,” said Wood. “We will make all kinds of financial services available through them, including loans, debit cards, credit cards, stock purchases, and bitcoin purchases.”
Elsewhere, according to Wood, the genomics room is also set for escape speed.
“DNA sequencing will introduce science to healthcare decision-making for the first time,” said Wood. “We can honestly say that up to now more than half of all healthcare decisions have been made in part by guesswork or experience. Now we will have the data.”
“We will be able to cure diseases we never thought could be cured, including cancer,” said Wood.
ARK Innovation’s shares are up 2.5% this year, and shares of ARK Genomic Revolution increased by less than 1% in 2021.
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