Bloomberg: “Cathie Wood Fans Plow $300 Million Into Battered Flagship ETF Despite Big Losses”
By datatrekresearch in IN THE NEWS
Excerpt from Bloomberg quoting DataTrek's Jessica Rabe:
.... "Part of what catapulted Wood to fame was her bold calls on speculative tech firms, which comprise many of her holdings. An analysis by DataTrek Research LLC shows that a number of ARKK’s 10 largest positions in November 2021 remain at the top of her leaderboard — including Tesla, Roku Inc., Coinbase Global Inc. and Shopify Inc.
However, not one of them has been able to keep up with the broader market since. All four of those companies are suffering steep double-digit losses since November 2021, while the S&P 500 is up about 20%.
“That longer timeframe, which covers everything from the depths of the pandemic crisis to ChatGPT, has been remarkably rewarding for US equity index investors, but not for holders of ARKK,” Jessica Rabe, co-founder of DataTrek, wrote in a note last month. “ARKK is ultimately a trade that does best when animal spirits are running hot"....
Full article here on Bloomberg.
