5 Best ARK Stocks To Buy Now

In this article, we will be taking a look at the 5 best ARK stocks to buy now. To read our detailed analysis of these stocks and ARK Investment Management’s 13F holdings, you can go directly to see the 12 Best ARK Stocks To Buy Now.

5. Coinbase Global, Inc. (NASDAQ:COIN)

ARK Investment’s Stake Value: $699,091,000

Percentage of ARK Investment’s 13F Portfolio: 4.13%

Number of Hedge Fund Holders: 29

Coinbase Global, Inc. (NASDAQ:COIN), a crypto company, offers retailers a primary financial footprint in the US crypto economy. It is based in Wilmington, Delaware.

Christopher Brendler at DA Davidson holds a Buy rating on Coinbase Global, Inc. (NASDAQ:COIN) shares as of August 11. The analyst also raised the price target on the stock from $90 to $100.

As of the close of the second quarter, Coinbase Global, Inc. (NASDAQ:COIN) had an EPS of -$0.87, beating estimates by $0.36. The company also currently holds a working capital growth of 30.9% year over year.

Coinbase Global, Inc. (NASDAQ:COIN) had 29 hedge funds long its stock in the second quarter. Their total stake value was $1.2 billion.

Hayden Capital, an investment management firm, mentioned Coinbase Global, Inc. (NASDAQ:COIN) in its second quarter 2022 investor letter. Here’s what the firm said:

“Coinbase (NASDAQ:COIN): The crypto ecosystem moves extremely quickly, and there’s been many new developments since we first invested in Coinbase, a year ago. Most notably, crypto market cap has declined from a peak of ~$3 Trillion last fall, to ~$1.1 Trillion today (a -63% decline, and -72% peak-to-trough; LINK). Crypto is a volatile asset class, and has experienced many draw-downs of similar magnitude in the past. For example, Bitcoin was down -93% during 2011, -85% from 2013-15, and -84% from 2017-18. In this context, the latest draw-down is a pretty normal outcome for this emerging asset class.

A large reason for this volatility, is simply because there aren’t any major “real-world use cases” for the asset just yet. In our letter outlining the investment last year, we wrote that crypto is still “in the middle of ‘crossing the chasm’ into mainstream adoption & use cases, which will result in millions of mainstream users needing to transact crypto in some form”…” (Click here to see the full text)