Michael Burry of ‘The Big Short’ reveals a bet against Cathie Wood’s ARK Innovation ETF
Subscription site: https://www.cnbc.com/2021/08/16/mich...ation-etf.html
11 Plunging Stocks Are Badly Burning Cathie Wood's ARK Invest
https://www.investors.com/etfs-and-f...ds/?src=A00220ARK Invest's marquee ETF, ARK Innovation (ARKK), dropped to 103.98 Monday, its lowest close all year. It's now down more than 16% just in 2021. And much of the pain is due to 11 of its holdings, such as health care plays Editas Medicine (EDIT) and Syros Pharmaceuticals (SYRS) plus tech Materialise (MTLS), which lost more than a third of their value in 2021 so far.
Talk about a reversal of fortunes. ARK Innovation was the hottest thing going last year. Money poured into the ETFs managed by Wood's company. ARK Innovation jumped 148.7% in 2020. But for now the direction is down, and fast.
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Michael Burry of ‘The Big Short’ reveals a bet against Cathie Wood’s ARK Innovation ETF
Subscription site: https://www.cnbc.com/2021/08/16/mich...ation-etf.html
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
This would have been a fantastic ETF to buy in February but I'm wondering how this will affect meme stocks, etc. when it goes live. More short squeezes, or more plunges as everyone will have access to "shares" to sell short.
https://www.barrons.com/articles/sho...tf-51628035888Tuttle Capital Management, a small fund company with 10 ETFs and $228 million under management, has filed to launch the Short ARKK ETF under the ticker SARK. The fund would seek to track the inverse performance of the $23 billion ARK Innovation ETF (ticker: ARKK) through swaps contracts, according to a filing with the Securities and Exchange Commission.
That's pretty funny. I wonder what Cathie thinks of that?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Regarding Michael Burry, she tweeted, "I do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space."
Breakdown, and support has become resistance. Will window dressing punch it back above $114? ARKK is one to watch when it comes to momentum.
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Cathie Wood disputes Jack Dorsey’s hyperinflation warning, says prices will fall after holidays
https://www.cnbc.com/2021/10/25/cath...-holidays.htmlThe founder and CEO of Ark Invest took to Twitter to expound upon her contrarian theory about deflation after Dorsey tweeted Friday evening that “Hyperinflation is going to change everything. It’s happening.” Wood estimates that her hypothesis will start to play out sometime after the holidays.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
I'm with Cathie here and actually agree with Rosenberg for once.
ARKK, down 7% today, back to September 2020 lows.
Here’s the market move Cathie Wood says is ‘ridiculous’ as her flagship fund sputters
https://www.marketwatch.com/story/he...?siteid=yhoof2While Wood is still a believer that COVID-19 is accelerating innovation, she isn’t a buyer of the rally in automotive stocks since the new year, on news including Ford doubling the rate of production of the electric version of the F-150. “I look at the performance of stocks like [General Motors] GM and Ford F, they soared on those electric-vehicle announcements,” she said. “That’s ridiculous.”
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Says the person who's #1 holding is Tesla?!
Sitting on or around the 61% fib retracement from 2020 lows. RSI on weekly slightly oversold for the first time since March 2020 (not shown in chart). If $80 doesn't hold, no support until the mid $60's to $70 levels.
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