Founder of Cash Wood Arc Invest. Forbes offer
Has Kathy Wood’s magic changed to’Cash Wood’s Curse’? CNBC reported on the 23rd (local time) that Cashwood’s investment stocks, which had been receiving investors’ attention through foresight, were intensively sold. As a result, it is said that the new word’Cathie Wood sell-off’ came out.
The Arc Innovation Listed Index Fund (ETF), led by giant investor Kathy Wood, plunged 11% shortly after its opening and ended with a 3.3% decline. This week’s decline has already reached 10%.
Companies that ARC Innovation ETF invested intensively led the fall of the New York Stock Market. Representative companies include Tesla and Palantier Roku Square PayPal, Baidu Gillow, Teladak Shopify, Spotify, and more.
Arc Innovation ETF’s return this year has turned downward. Arc Invest offer
In particular, 8.7% of innovation ETFs are occupied by Tesla. It is very dependent on Tesla. Tesla’s share price has fallen close to 11% over the past two days.
Peter Cheer, analyst at Academy Securities, said, “It’s a problem that too many people are riding on’Noah’s Ark’ (Ark Innovation Fund). . He warned that the downtrend is not over yet.
Cathy Wood, who founded Arc Invest, an ETF manager, worked as the Chief Investment Officer (CIO) of Alliance Burnsteen (AB) after working as an Economist of the US Capital Group. In February 2018, I assured CNBC that “Tesla’s stock price will surpass $4,000 (before the five-to-one par value split) within five years.”
“FAANG (Facebook, Apple, Amazon, Netflix, Google) stocks are like safe assets.” Arc Invest’s assets under management were $58 billion, a 16-fold increase over last year.
New York = Correspondent Jae-gil Cho [email protected]
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