Ark Invest’s Cathie Wood stated digital wallets and genomics are the next two largest disruptive trends after Tesla and electric vehicles.
“We’re very excited about digital wallets,” Wood stated on CNBC’s “The News with Shepard Smith” on Tuesday. (*2*)
Wood — CIO and CEO of Ark Investment Management — has made a reputation for herself by investing in “disruptive innovation” shares. Wood’s flagship fund, ARK Innovation, has seen greater than $16.7 billion flood into the fund in the previous yr, based on FactSet.
In China, Wood stated WeChat Pay and AliPay are the main gamers.
“It’s going digital, its going mobile. A little bank branch in you’re pocket,” stated Wood. “We’re going to have all kinds of financial services available through them, including loans, debit cards, credit cards, stock buying, bitcoin buying.”
Elsewhere, Wood stated the genomics area can also be set to hit escape velocity.
“DNA sequencing is going to introduce science into healthcare decision making for the first time,” stated Wood. “We can honestly say that until now more than half of all healthcare decisions were in some part made through guesses or experiences. Now we’re going to have the data.”
“We’re going to be able to cure diseases that we never thought it would be possible to cure, including cancer,” stated Wood.
Shares of ARK Innovation are up 2.5% this yr and shares of ARK Genomic Revolution are up lower than 1% in 2021.
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