Why did ARKK take off so explosively this year? (mutual funds, redemption, costs)
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A potential floor might be found in ARK funds today. If today turns into another big sell off, than I think there will be more downside to come next week. I might get 25% invested again today to test the water, but wouldn't go all in in case we go up today and it ends up being a bull trap. We are still 22% from the 200 day and 6% from the 100 day (ARKK).
Thanks! I've seen similar videos regarding ARK talking about the overall ownership of outstanding shares in some of the small caps they own, but haven't seen elliot wave and fibonacci applied to them before. I don't use those in my trading style, but I do find them interesting.
Cathie has a new competitor - MOON - up 34% YTD. I considered investing in this ETF a couple months ago but it took off before I started a position and hasn’t pulled back enough yet for me to feel comfortable about getting in.
Cathie has a new competitor - MOON - up 34% YTD. I considered investing in this ETF a couple months ago but it took off before I started a position and hasn’t pulled back enough yet for me to feel comfortable about getting in.
Competition is always good. First I've heard of MOON. Looks like they have some solid Holdings. Doesn't appear actively managed (semi annual rebalance) but they do appear to be beating ARK funds on the charts.
You know, I just realized how old I am. It's Saturday night and I'm at home researching stock funds. What the hell happened to my life, lol.
Thanks for sharing that one. I may to throw some cash at it.
This article from Bloomberg explores the possibility that Cathie Wood's huge following and her alliance with Nikko Assets actually CAUSED the extreme appreciation in price of the stocks she has chosen.
Cathie chooses, others follow. Lots and lots of others.
In fact in this thread there are comments to that effect. Several people have said they will "choose Cathie over some unknown", or words to that effect.
The article warns that in the event of significant outflows, ARKK will be forced to sell it's high fliers and that selling will accelerate downward at an ever increasing rate. The result could be pretty severe since some of her holdings are at extreme multiples of 15 and 20 times revenue. NVTA, for example, has a market cap of $8B and forecasts revenue of $450M giving it a multiple of 17.7
Her fund took off after the election since she owns a lot of Tesla. You can plot ARKK overlaid with TSLA. ESG sector is one of the most over-owned sectors along with FAANGs, Techs, and Bitcoin. There's a lot of hope that the government will shower the sector with more subsidies. You see Bill Gates making a series of pleas on TV, radio, and newspapers for government programs.
The main concern would be how lasting will this rotation from tech to pre-covid stocks be. We got good news there will be enough vaccines earlier than expected for all Americans by end of May, which I think is the main driver of this downward movement, which I think is a legitimate concern. I sold my quarter position in the ARKs today. Maybe I sold at the bottom, but it's okay, just wanting to keep my total profit until the market decides what it wants to do. DIA seems like the safest place short-term.
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