Tesla (TSLA), Shopify (SHOP), DraftKings (DKNG) and Twilio (TWLO) are significant Cathie Wood stocks that are flashing buy signals or on the cusp of doing so.
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Tesla stock is the No. 1 holding across ARK Invest’s ETFs. SHOP stock is No. 8, with DraftKings at No. 9 and Twilio No. 11.
Tesla Stock
Tesla stock is trying to put some distance from the 50-day line. Shares edged up 0.5% to 258.08 on Thursday, surging 8.2% so far this week. TSLA stock has a 299.29 official buy point, according to MarketSmith analysis. But a move above Thursday’s high of 261.18 would offer an early entry.
Chinese media is reporting that Tesla will put an updated Model 3 EV on sale in that country on Friday. On the flip side, federal prosecutors are reportedly opening new criminal probes of the EV giant. Also, U.S. inventory discounts on the Model 3 and Y continue to increase.
Cathie Wood Stocks: Shopify
SHOP stock vaulted 10.8% on Thursday to 66.49, gapping above the 50-day moving average and a downward-sloping trendline and closing near session highs. Shopify stock has an official buy point of 71.43.
Amazon.com (AMZN) late Wednesday announced a deeper integration with Shopify. The seeds of that deeper partnership were sown in early May, when Shopify announced it was getting out of the logistics business, ending its direct competition with Amazon.
Amazon stock, for its part, rose 2.2% to 138.01, rebounding from its 21-day and 10-week lines.
DraftKings Stock
Also among Cathie Wood stocks, DKNG is still in range of the 50-day line after clearing that key level on Tuesday. Shares dipped 2 cents to 29.65 on Thursday, turning lower right at the close. The online betting giant has been rebounding on volume that’s well below normal, after coming off 52-week highs in heavy trade in early August. DraftKings stock is working on a new base, but that will take another week.
Cathie Wood Stocks: Twilio
Twilio stock is flashing an early entry after clearing its 50-day line on Thursday. Shares of the communications software maker rose 2.8% on Thursday to 63.71, continuing a three-day bounce from the 200-day line. But all of those gains came in anemic volume. Further, the relative strength line for this Cathie Wood stock has been sliding since early June and Twilio is far off its early 2021 peak.
TWLO stock has a 71.24 buy point from a consolidation right next to a prior base.
Please follow Ed Carson on X/Twitter at @IBD_ECarson for stock market updates and more.
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