Cathie Wood’s ARKK drops 4% and now closes negative in 8 of the last 10 sessions
Cathie Wood's flagship $ARK Innovation ETF(ARKK.US$continues to feel the pressure as the fund ended in the red on Monday -4.19% and has now closed to the downside in eight of the last ten trading sessions.
Over the past ten days ARKK has fallen 12.44% and now trades -13.86% year-to-date.
The exchange traded fund touched an intraday low of $107.59, which it has not seen in well over a month, dating back to October 5.
Moreover, investors appear to be fleeing themselves from ARKK. Since November 1, the ETF has also witnessed an outpour of capital flows totaling $359.94M, according to etfdb.com.
Fueling ARKK’s recent selloff has been the rise of the $U.S. 10-Year Treasury Notes Yield(US10Y.BD$yield, which has climbed 16 basis points over the same period. Traditionally as yields ascend, they put pressure on tech-heavy names which ARKK holds.
Below is a two-month chart of ARKK highlighting its recent ten day decline. Investors opposed to ARKK may look towards the $Tradr Short Innovation Daily ETF(SARK.US$, which is ARKK's inverse competitor fund that has returned +12.56% over the same ten-day period ARKK has slipped.
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70647194 : Schilder’s double down on her convictions stocks… That’s what all smart investors do
Teddy Willson : Disruptive and innovative?
Imagine how much her funds would be down if TSLA wasn't there to lessen the losses.
Her 15 minutes are up...except on moomoo and CNBC.
James Browny Teddy Willson : Now you like Tesla? Tesla was hated for years and it's stock price was in the gutter until only about 2 years ago. Other main ARKK holdings such as Shopify, Square, Roku, Teledoc, Twilio are far from "speculative" companies and many are technology leaders in their perspective fields with billions in revenue. Sure they are out of favor now, but that's where opportunity lies!
Stitch-fu Teddy Willson : Coach be careful the tesla cult knows the price of tesla and that’s it. That’s as far as the technological know she goes of wectical engineering
use small words next time
Z9Gwqc14JU : How disruptive! She is a charlatan. The masses of newbies fell for a crazy old lady talking like she could see the future (like the Oracle in the Matrix). Whoops!!
GoldenGold : Her biggest position is still Tesla
ouySFiuuNu Z9Gwqc14JU : She is an elderly woman suffering from dementia and can only mutter a couple of words, two of them being disruptive and innovation.
Moomoo should have some respect and leave her alone rather than continually calling attention to her gross negligence
IWsnAFZDHM : Such an overrated fund manager...
qPg7PBSdvS IWsnAFZDHM : agreed!
BfqseGOSuE : When she put TDOC as a heavy weight in her portfolio, I knew she had no clue about how the remote medical services are done. She did placed a big successful bet on TSLA so far, but only time can tell if that is right in longer term.
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