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ARK Destroyed More Wealth Than Any Asset Manager Over The Previous Decade
Article By:
Mish Shedlock
Tuesday, April 23, 2024 5:49 PM EDT
Congratulations to Cathie Wood for losing $14.3 billion over the past decade, more than any other fund manager according to Morningstar.
The Nasdaq Plummets As Market Leader Nvidia Drops 10%
Article By:
Mike Swanson
Saturday, April 20, 2024 2:20 PM EDT
The stock market has now fallen for another week, and that decline sped up a bit as shares of Nvidia's stock fell 10% on Friday. Remember, last week, it was JPMorgan that posted a tear drop decline after it reported earnings.
ARKK’s Tech Bets: Over 500k Roblox Shares Purchased, 1.24M Robinhood Shares Sold
Article By:
The Tokenist
Friday, March 29, 2024 7:30 PM EDT
Cathie Wood's ARK Innovation ETF had an active trading week, with notable transactions including the purchase of over 500k Roblox shares and the sale of 1.247 million shares of Robinhood Markets.
ARKK Suffered $352 Million In Outflows On Wednesday Before Plunging To 52 Week Lows On Thursday
Right now it's a death spiral because $ARKK is such a large holder of most things it's invested in. ARK attracted way too much money for its "disruptive" strategy because many of these companies don't have huge market caps ($TSLA is an exception). All the buying by the ARK ecosystem drove prices higher but that knife cuts both ways. Faced with redemptions, ARK is forced to sell things to generate cash, which hammers the prices of illiquid securities and triggers...more redemptions. Rinse, repeat. The smart move would have been to close the funds to new investors instead of raising so much new money on the back of her TSLA success. Greed is a sin for a reason and ARK's investors are paying the price for not understanding that.