Cathie Wood sees these 2 trends as the next big things after electric vehicles

4 weeks ago 35

Ark Invest's Cathie Wood said integer wallets and genomics are the adjacent 2 biggest disruptive trends aft Tesla and electrical vehicles.

"We're precise excited astir integer wallets," Wood said connected CNBC's "The News with Shepard Smith" connected Tuesday. "We truly deliberation that these integer wallets and two-sided marketplace places, merchants and consumers...are going to usurp a batch of the relation the banks play today."

Wood — CIO and CEO of Ark Investment Management — has made a sanction for herself by investing successful "disruptive innovation" stocks. Wood's flagship fund, ARK Innovation, has seen much than $16.7 cardinal flood into the money successful the past year, according to FactSet.

Wood has large bets connected names similar Square and PayPal, which predominate the integer wallet space. Square is the 2nd largest holding successful Ark Innovation, representing much than 7% of the ETF.

In China, Wood said WeChat Pay and AliPay are the large players.

"It's going digital, its going mobile. A small slope subdivision successful you're pocket," said Wood. "We're going to person each kinds of fiscal services disposable done them, including loans, debit cards, recognition cards, banal buying, bitcoin buying."

Elsewhere, Wood said the genomics abstraction is besides acceptable to deed flight velocity.

"DNA sequencing is going to present subject into healthcare determination making for the archetypal time," said Wood. "We tin honestly accidental that until present much than fractional of each healthcare decisions were successful immoderate portion made done guesses oregon experiences. Now we're going to person the data."

ARK's Genomics ETF has large bets connected Exact Sciences, which makes up astir 5% of the ETF, and Invitae. CRISPR Therapeutics is different large holding successful the ETF.

"We're going to beryllium capable to cure diseases that we ne'er thought it would beryllium imaginable to cure, including cancer," said Wood.

Shares of ARK Innovation are up 2.5% this twelvemonth and shares of ARK Genomic Revolution are up little than 1% successful 2021.

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