Cathie Wood told Yahoo Finance Live that just as Baby Boomers have been a major influence on the stock market for decades, their children, aka millennials, will be just as, if not more, important to the investment landscape. decades to come.
And this is one of the reasons why the close monitoring Ark Invest founder and CEO remains long-term bullish on stocks.
“It’s the echo of the baby boom,” Wood said of the rise of millennial investors, especially in 2021. Research referenced by Wood suggests that the equity bull market may expand until 2038 as millennials build their wallets.
In many ways, it was these millennials with their growing purchasing power that created the memorabilia stock movement that began in January. It’s a dynamic that has helped propel the stock prices of well-known and easy-to-understand companies such as GameStop (GME), AMC (AMC) and BlackBerry (BB) to dizzying new highs.
Likewise, the millennial interest in the markets arguably benefited from the stock price of Wood frontrunner Tesla (TSLA) backed by famed CEO Elon Musk (Wood has a price target of $ 3,000 on You’re here). And in the process, it made Wood’s investment advice much sought after.
Wood adds, “I lived through the baby boom years, and this evolution in the stock market has been magnificent. It was a very simple assumption, and it worked. And I feel like we’re in the same place now.
Certainly, many of Wood’s investments through his various ETFs have a millennial vibe as they focus on leading tech companies.
For example, Wood owns shares of Robinhood (HOOD) and Coinbase (COIN), two companies at the forefront of the cryptocurrency rise. The same could be said for Square (SQ), which is also turning into a super app as it grows deeper into crypto. Roku (ROKU) is also a high-profile starring for Wood, a play about millennials ditching their expensive TV bill for more affordable streaming services.
“A lot of people ask me, ‘Are we in a bubble? We cannot be further. I don’t think the average investor understands how productive the next five to fifteen years are going to be. [for stocks] because these S-curves feed off each other and enter exponential growth trajectories that we’ve never seen before, ”said Wood.
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