‘Private Markets Get It,’ but Disruptive Tech Is Beaten-Up in the Stock Market, Says Ark’s Cathie Wood

MarketWatch2022-04-13

'I think people would be surprised at how little Elon and I talk,' ARK CEO Cathie Wood says Tuesday at the Exchange ETF conference in MiamiCathie Wood, chief executive and chief investment officer of ...

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Comments

ThinkOrSwim
2022-04-13
ThinkOrSwim
Yes, and private markets are sucking up losses big-time. [Sly]
Francis1977
2022-04-13
Francis1977
Informative
V K
2022-04-13
V K
Pls like tyvm[Happy]
Ultraviolet
2022-04-13
Ultraviolet
Cool

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But ARK's stock-market bets on disruptive innovation have sunk this year, even as Wood maintains that fundamentals, for the most part, have \"not deteriorated.\"\"During risk-off periods, we always concentrate our portfolios,\" she said, favoring the \"highest conviction names\" identified by ARK. Some of the \"consolidation\" candidates that have emerged were \"levitating\" while other bets were getting \"crushed,\" she said.Shares of the ARK Innovation ETF (ARKK) closed flat Tuesday and have plunged almost 37% so far this year, according to FactSet data. The exchange-traded fund took a bruising last week, falling about 10%, data shows.While on stage at the conference, Wood was asked about how often she speaks to Elon Musk, CEO of Tesla Inc., as well as his relationship with Twitter, the social media company in which he recently acquired a stake to become its largest individual shareholder.\"I think people would be surprised at how little Elon and I talk,\" said Wood. ARK, which holds Tesla shares, is interested in the company's technologies, including its artificial-intelligence strategy, robotics and battery tech, she said, as well as Musk's \"vision.\"As for Twitter (TWTR), where Musk has more than 81 million followers, Wood said that \"for Elon, all publicity is good publicity.\" Tesla spends \"zero\" on advertising, she said.ARK supports \"radical transparency\" in the financial services industry, according to Wood.  \"We give our research away,\" she said. \"We share our ideas.\"Wood also said that \"we're going to be publishing our models\" on GitHub. Investors will be able to change the variables in the models \"if you think we are being too aggressive or not aggressive enough,\" she said.Plus, ARK discloses its holdings each day, said Wood. She said ARK's transparency can help increase shareholders' conviction in the asset manager's investment strategy, while some investors may be using the information for their own personal investment portfolios.\"Innovation is happening at an accelerated rate,\" said Wood. \"Tesla and bitcoin   alone have changed people's lives.\"","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9080080482,"gmtCreate":1649818446658,"gmtModify":1676534583486,"author":{"id":"4107161170881400","authorId":"4107161170881400","name":"ThinkOrSwim","avatar":"https://static.itradeup.com/news/456b9d740a0500cd2e7af1a1332c61de","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4107161170881400","authorIdStr":"4107161170881400"},"htmlText":"Yes, and private markets are sucking up losses big-time.&nbsp;[Sly]&nbsp;","listText":"Yes, and private markets are sucking up losses big-time.&nbsp;[Sly]&nbsp;","text":"Yes, and private markets are sucking up losses big-time. [Sly]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080080482","repostId":2227698320,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9080010969,"gmtCreate":1649817430031,"gmtModify":1676534583229,"author":{"id":"3563665942813728","authorId":"3563665942813728","name":"Francis1977","avatar":"https://static.tigerbbs.com/f41e57e9c6370943666fc4df69655b8f","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3563665942813728","authorIdStr":"3563665942813728"},"htmlText":"Informative","listText":"Informative","text":"Informative","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080010969","repostId":2227698320,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9080038676,"gmtCreate":1649816991204,"gmtModify":1676534583106,"author":{"id":"3577323914202336","authorId":"3577323914202336","name":"V K","avatar":"https://static.tigerbbs.com/536d624e5750dcffec704eeed9bc003b","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":8,"crmLevelSwitch":1,"idStr":"3577323914202336","authorIdStr":"3577323914202336"},"htmlText":"Pls like tyvm[Happy]&nbsp;","listText":"Pls like tyvm[Happy]&nbsp;","text":"Pls like tyvm[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080038676","repostId":2227698320,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9080094439,"gmtCreate":1649816537318,"gmtModify":1676534582853,"author":{"id":"3580342534451795","authorId":"3580342534451795","name":"Ultraviolet","avatar":"https://static.tigerbbs.com/0a37729d59392a2fd9ac9c4dbe50e826","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3580342534451795","authorIdStr":"3580342534451795"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080094439","repostId":2227698320,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":41,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2227698320"}