Shopify (SHOP)
Wood believes Canadian e-commerce giant Shopify is in a position to challenge the space’s biggest player, Amazon, in the coming years. Thanks to its differentiated service and first-mover advantage, Shopify’s upside remains attractive according to Wood.
“We're trying to figure out how Amazon is going to deal with this notion of individuals seeing something on Instagram or elsewhere on Facebook or on Twitter, or on Snap and just buying there," Wood recently told BNN Bloomberg. "That's a Shopify-enabled commerce opportunity and we think it's going to be big."
Shopify is already pretty big. In Q3, the company raked in over $1.1 billion in revenue and currently boasts a market cap greater than $180 billion.
The company’s stock is up about 30% this year, which is good news for ARKK investors. The fund holds more than 506,000 shares in Shopify.
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Square (SQ)
If there’s one thing Cathie Wood’s a fan of, it’s disruption. And Square is positioned to be one of the fintech industry’s biggest disruptors.
Square started out as a digital payment platform, and is still among the space’s leaders, but its expanded slate of products — the ever-evolving Cash App, recent offerings for making crypto investing easier, the recently acquired Afterpay — should allow the company to occupy a growing role in an increasingly cashless global economy.
Square’s Q3 gross profits came in at $1.13 billion, a year over year increase of 43%. But the company’s share price has been all over the place this year. It’s currently down about 11% year to date.
Square still takes up a fair amount of space in ARKK — about 3.1 million shares’ worth, which accounts for 3.6% of the portfolio.
DraftKings (DKNG)
If you’re willing to bet on the stock market, it makes a certain kind of sense to target a company that has gambling at the heart of its business.
Sports betting is booming — particularly online. The industry generated about $131 billion in revenue in 2020, according to Zion Market Research, and is projected to grow to almost $180 billion by 2028.
As one of the leading fantasy sports and online bookies in the space, DraftKings stands to be at the forefront of that growth.
In Q3, it expanded its operations into three additional states and brought in revenue of $213 million, a 60% increase compared to the same period last year.
Wood continues to like what she sees. In addition to ARKK holding more than 12.3 million DraftKings shares, she added 400,000 shares in the company to two other ARK ETFs in November.
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Buy now? Or later?
Some people suggest buying stocks now to capture December’s “Santa Claus rally,” while others believe you should take advantage of the January effect.
Many even say seasonality doesn’t matter for stocks.
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