Cathie Wood shares posted modest gains as investors wait for a turn in macro factors. Some tech stocks saw inflows on the back of a rise in Nvidia, making it the largest stock by market capitalization. Nevertheless, assets are still falling short of inflows in the first quarter of 2024, which brought better-than-expected earnings.
Cathie Wood of ArkInvest rose to popularity with her daily updated stock portfolio. In 2021, Cathie Wood's stocks soared and gained mainstream support and a community, but in recent years she has had less success. Crypto stocks have fallen due to the overall market downturn. Here are Cathie Wood's stock trends for the week:
Coinbase (COIN)
Digital asset exchange Coinbase is trending among Cathie Wood stocks this week. COIN has fallen sharply due to the crypto market decline, but the rebound has sparked greater optimism. The asset is down 3.90% and trading at $255.86. COIN has also plummeted 8% this week as crypto trading volumes across Bitcoin and altcoins have declined. Bulls are keeping an eye on the changing landscape as cryptocurrencies bounce back with modest gains in the market, which could be positive for the asset in the short term.
Tesla Inc. (TSLA)
Electric car maker Tesla rose 0.79% to trade at $183. TSLA continues to attract inflows as investors turn to renewable energy solutions. The surge in electric vehicles has fueled the stock's growth in recent years. However, macroeconomic factors have led to a decline in the weekly numbers, along with other assets. Over the past seven days, TSLA has fallen 1%, paring previous gains.
Robin Hood (HOOD)
Robinhood Markets Inc. is one of the stocks driving Cathie Wood stock trends on a weekly basis. HOOD has risen this week amid a market correction with continued inflows. Weekly trading volume fell 3%, but monthly volume increased 13%. Robinhood is attracting a broader range of market participants based on recently announced deals and partnerships. The company's stock is up more than 70% this year.
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David Pokima
David is a financial news contributor with 4 years of experience in the blockchain technology and cryptocurrency space. He is interested in learning about emerging technologies and has an eye on the latest news. He keeps abreast of trends and reports on a variety of areas including regulation, partnerships, crypto assets, stocks, and NFTs. Outside of the financial markets, David enjoys cycling and horse riding.
