Long-time Tesla bull and Elon Musk supporter Cathie Wood thinks the billionaire’s ownership of the social media platform is exactly what it needs. “I am kind of excited to see what Elon will do,” the noted tech investor told Yahoo Finance Live in an exclusive and wide-ranging interview on Thursday (full video above). “I actually think he will work closely with [Twitter Founder] Jack Dorsey and maybe open up the ecosystem, take away the censorship, make it much more transparent, and I think… Source link
Read More »Short sellers betting against Cathie Wood’s ARK ETFs are up $2.4 billion this year
Traders betting against Cathie Wood’s ARK Invest have had a lucrative run this year. Shorting the firm’s family of eight exchange-traded funds (ETFs) has turned investors a mark-to-market profit of $2.4 billion so far in 2022 – more than twice the $941 million profit they made in all of last year, per figures from data analytics firm S3 partners. Of that gain, $492 million has been generated since mid-August, as technology stocks resumed a downslide amid renewed rate hike fears and… Source link
Read More »Ark Invest’s Cathie Wood gives up portfolio manager role at two of firm’s ETFs
ARK Invest founder and CEO Cathie Wood relinquished her role as portfolio manager at two of the investment management firm’s exchange-traded funds, according to a regulatory filing. William Scherer, who has served as a trading manager at ARK since 2014, has been appointed to handle investments in place of Wood for the company’s two index funds, ARK 3D Printing ETF (PRNT) and ARK Israel Innovative Technology ETF (IZRL) beginning September. The 3D printing-focused fund has a net value of… Source link
Read More »Cathie Wood Goes on Biggest Dip-Buying Binge Since February
(Bloomberg) — Tuesday’s brutal selloff in the aftermath of August’s hotter-than-expected inflation print looked like opportunity to Cathie Wood’s Ark Investment Management. Most Read from Bloomberg The firm bought 27 stocks across its eight exchange-traded funds on Tuesday, according to data compiled by Bloomberg. The largest buy was Roku Inc., which is already the third biggest holding in the firm’s flagship $8 billion ARK Innovation ETF (ticker ARKK). The purchases came on a day when… Source link
Read More »Long-time bull Cathie Wood warns investors about the ‘big problem’ in the economy. Here’s what she likes today
‘We are in a recession’: Long-time bull Cathie Wood warns investors about the ‘big problem’ in the economy. Here’s what she likes today The official GDP estimate for Q2 won’t be available until later next month, but many experts – including Ark Invest’s Cathie Wood – are calling for a recession. “We think we are in a recession,” Wood says in a recent CNBC interview. “We think a big problem out there is inventories — the increase of which I’ve never seen this large in… Source link
Read More »Cathie Wood warns the Fed are ignoring dangerous signals as it plows ahead with draconian rate hikes
The U.S. Federal Reserve risks weak economic growth throughout this year due to its backward-looking, “draconian” rate hikes, warned Wall Street’s best-known tech sector bull. ARK Invest founder Cathie Wood, who became famous for her prescient bets on disruptive technologies led by companies such as Tesla, argued the Fed must temper its policy given leading economic indicators were flashing red. These included speculative bets indicating an expectation for rising bankruptcies via… Source link
Read More »Investors still love Cathie Wood, but hate the best sector of the year
The bloodbath in the markets this past week wrecked retail stocks, as Walmart (WMT) posted its worst week ever, falling 20%. Amid the carnage, investors piled into beaten-down names like the Ark Innovation ETF (ARKK) while shunning the best performing sector of the year. The energy sector’s stunning 47% return this year stems from soaring oil and gas prices, as WTI crude oil futures (CL=F) surged 56% this year. Still, investors have yanked $705 billion from the iShares U.S. Energy ETF (XLE)… Source link
Read More »Tesla Loses Top Spot in Cathie Wood’s Flagship Fund
(Bloomberg) — Tesla Inc. has lost its crown jewel status in Cathie Wood’s main fund for the first time in about four-and-a-half years. Most Read from Bloomberg Elon Musk’s company had commanded the pole position by market value in the ARK Innovation ETF, an exchange-traded fund known as ARKK, on most days since at least 2017, according to data compiled by Bloomberg. That changed on Thursday, when electronics product maker Roku Inc., a firm with $13.2 billion of market value, pipped it to… Source link
Read More »Cathie Wood’s Famed Market-Beating Return Is Disappearing
(Bloomberg) — The outsized gain that turned Cathie Wood into one of the world’s most famous proponents of active fund management is quickly evaporating as some of her favorite stock picks tumble. Most Read from Bloomberg After years of trouncing the market and just days after Wood issued a broadside against passive investing, her flagship ARK Innovation ETF now looks set to give up all the outperformance it once enjoyed against the S&P 500 Index. Wood’s strategy of picking stocks involved… Source link
Read More »Cathie Wood Says Fed Won’t Hike as Much as Market Priced In
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg The Federal Reserve isn’t going to hike rates as much as markets are currently betting, according to Cathie Wood. The strategies of ARK Investment Management LLC, where Wood is founder and chief executive officer, have struggled recently amid fear of inflation, she said via video to the Seedly Personal Finance Festival in Singapore. The firm’s flagship ARK… Source link
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