Latest news with #ArkInnovationETF
Miami Herald
2 days ago
- Business
- Miami Herald
Cathie Wood buys $45 million of battered megacap tech stock
Cathie Wood doesn't give up on companies she believes in. The Ark Invest chief is known for sticking with tech stocks she sees as "disruptive", often buying even when they face setbacks. This is what she just did, adding to a high-profile tech stock amid a post-earnings dip. Wood's funds have experienced a volatile ride this year, swinging from sharp losses to strong gains. In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But that momentum hit hard in March and April, with the funds trailing the market as top holdings slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of July 25, the flagship Ark Innovation ETF (ARKK) is up 33.3% year-to-date, far outpacing the S&P 500's 8.6% gain. Wood's remarkable return of 153% in 2020 helped build her reputation and attract loyal investors. Her strategy can lead to sharp gains during bull markets but also painful losses, like in 2022, when ARKK tumbled more than 60%. As of July 25, Ark Innovation ETF, with $6.8 billion under management, has delivered a five-year annualized return of negative 0.03%. The S&P 500 has an annualized return of 16.46% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology and robotics. According to Wood, these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026 and struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not all investors share this optimism. Through July 10, the Ark Innovation ETF saw nearly $2 billion in net outflows over the past 12 months, according to ETF research firm VettaFi. On July 24, the day when Tesla (TSLA) dropped 8.2% following its second-quarter earnings, Wood's Ark funds snapped up 143,190 shares worth around $45.3 million. This was one of Wood's largest recent purchases. Tesla's Q2 earnings were quite dismal. The electric vehicle maker reported a 16% drop in automotive revenue as vehicle sales declined for the second straight quarter. Related: Analysts turn heads with new Alphabet stock price target after earnings The company posted adjusted earnings of 40 cents per share, missing the 43 cents expected. Revenue came in at $22.50 billion, slightly below the $22.74 billion forecast. "We probably could have a few rough quarters. I am not saying that we will, but we could," CEO Elon Musk said. Tesla is grappling with growing challenges, from the rise of lower-cost electric vehicle competitors, especially in China, to a political backlash against Musk that has damaged the brand in the U.S. and Europe. But that hasn't stopped Wood, a longtime supporter of Tesla, from doubling down. "We've been dealing with controversy around Elon Musk in one form or another since we first bought the stock," Wood said in a recent interview with Bloomberg. "We do trust the board and the board's instincts here and we stay out of politics." She also noted that Musk seems more focused on the business again, especially after he decided to take charge of sales in the US and Europe. "One of the announcements Elon made recently is that he is going to oversee sales in the US and in Europe," Wood said. "When he puts his mind on something, he usually gets the job done. So I think he's much less distracted now than he was, let's say, in the White House 24/7." Back in March, Wood predicted Tesla's stock would reach $2,600 in five years, which is nearly nine times higher than where it trades now. Much of the optimism is driven by the company's highly anticipated robotaxi, which Wood believes will account for 90% of the company's value. Musk said during the earnings call that Tesla's robotaxi service, which the company has recently started testing in Austin, Texas, will expand to other states, with a goal of covering half the U.S. population by year-end pending regulatory approvals. "That's at least our goal, subject to regulatory approvals. I think we will technically be able to do it," he said. Tesla stock is down more than 21% year-to-date. The stock has long been Wood's biggest holding, accounting for 9.6% of the Ark Innovation ETF. Related: Analysts unveil bold Amazon stock price target before earnings The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
CNBC
7 days ago
- Business
- CNBC
From robotaxis to rockets: Morningstar rated these two ETFs as top performers. How they're positioning right now
He helped clinch the top two spots on Morningstar's best performing ETFs last quarter, and now Ark Invest's Brett Winton is looking to do it again with extensive exposure to Big Tech and aerospace. Winton helps set strategy for the No. 1 ranked Ark Innovation ETF (ARKK) and runner-up Ark Space Exploration & Innovation ETF (ARKX). "We are in the earliest stages of a massive technological transformation here," the firm's chief futurist told CNBC's "ETF Edge" this week. "There's going to be bumps along the road, but we think the right thing to do is to lean into innovation over the long term." The Ark Innovation ETF gained 48% last quarter. As of Tuesday's close, it's up 275% since its October 2014 launch. The firm's website describes the ETF as an actively managed fund that looks for cutting-edge advancements that have "real-world, practical implications for people." He cited Tesla's June launch of its robotaxi program in Austin, Texas as an example. "People didn't think they were going to be able to do it, and the assets are on the ground and operating," Winton said. "We think that's going to be an incredibly valuable network." The electric vehicle maker is the Ark Innovation ETF top holding, followed by Coinbase, Roku and Roblox, according to the firm's website on Tuesday. Winton is particularly bullish on infrastructure for artificial intelligence. "I think we're in the first pitch... We're still in warmups. We're still singing the national anthem here. The investment in AI data centers is going to explode," Winton said. "They're going to build data centers that are 10x the size of the current largest data centers, and that's going to yield a performance advance in AI that's mind-blowing even relative to what's available today." Morningstar's second best-performing ETF of the second quarter is the Ark Space Exploration & Innovation ETF, which gained 36% last quarter and is up 26% since its March 2021 launch. The space-themed fund's top holdings as of June 30 are Kratos, Rocket Lab, Iridium Communications, AeroVironment and Archer Aviation, according to Ark Invest. "ARKX [Ark Space Exploration & Innovation ETF] … performed very well because people are beginning to realize you need to invest in these technologies and capabilities in order to compete in the world," Winton said. Ark Invest is also placing bets on fintech stocks. Winton said there's "no question" that developments like cryptocurrency and digital wallets will reshape the financial landscape. He also helps build strategy for the Ark Fintech Innovation ETF (ARKF), which is up 45% so far this year. Its top holdings are Shopify, Robinhood and Coinbase Global. "I anticipate that you'll see a number of traditional financial institutions finally bend the knee and say, 'Hey, we need to adopt some of these technologies,' because it's no longer adequate or sufficient to offer consumers their money three to five days later when they want to transfer it from place to place," Winton said.
Miami Herald
12-07-2025
- Business
- Miami Herald
Cathie Wood buys $18.7 million of troubled megacap tech stock
Cathie Wood doesn't easily walk away from the companies she believes in. The Ark Invest founder has a habit of sticking with tech stocks she sees as shaping the future. Even when these names face controversy, Wood often leans in rather than pulling back. This is what she just did, adding to a high-profile tech stock that's been under pressure, caught in headlines and market swings. Wood's funds have experienced a volatile ride this year, swinging from sharp losses to strong gains. Don't miss the move: SIGN UP for TheStreet's FREE Daily newsletter In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the momentum hit a wall in March and April, with the funds trailing the market as top holdings slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of July 11, the flagship Ark Innovation ETF (ARKK) is up 25.5% year-to-date, far outpacing the S&P 500's 6.4% gain. Wood's remarkable return of 153% in 2020 helped build her reputation and attract loyal investors. Her strategy can lead to sharp gains during bull markets but also painful losses, like in 2022, when ARKK dropped more than 60%. As of July 11, Ark Innovation ETF, with $6.8 billion under management, has delivered a five-year annualized return of negative 1.7%. The S&P 500 has an annualized return of 16.2% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. According to Wood, these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026 and struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not all investors share this optimism. Over the past 12 months through July 10, the Ark Innovation ETF saw nearly $2 billion in net outflows, according to ETF research firm VettaFi. On July 11, Wood's Ark funds bought 59,705 shares of Tesla Inc. (TSLA) . That chunk of stocks is worth roughly $18.7 million. Wood has been a longtime supporter of Tesla and still believes in the stock, even after a sharp drop following CEO Elon Musk's recent announcement about launching a new political party. Related: Jim Cramer drops blunt 6-word message on Nvidia stock Tesla sales have dropped in key markets like Europe and China, as Musk faced political pushback and alienated some car buyers in key markets. "We've been dealing with controversy around Elon Musk in one form or another since we first bought the stock," Wood said in a recent interview with Bloomberg. "We do trust the board and the board's instincts here and we stay out of politics." She also noted that Musk seems more focused on the business again, especially after he decided to take charge of sales in the U.S. and Europe. "One of the announcements Elon made recently is that he is going to oversee sales in the U.S. and in Europe," Wood said. "When he puts his mind on something, he usually gets the job done. So I think he's much less distracted now than he was, let's say, in the White House 24/7." Meanwhile, Tesla is entering the India market, with its first showroom in Mumbai next week. Tesla will need to pay about 70% import duty fees, as it does not want to produce cars in India, according to Reuters. More Tesla: Tesla robotaxi launch hits major speed bumpTesla claims rival startup is built on stolen trade secrets10,000 people join Tesla class action lawsuit over key issue Back in March, Wood predicted Tesla's stock would reach $2,600 in five years, which is nearly nine times higher than where it trades now. Much of the optimism is driven by the company's highly anticipated Robotaxi, which Wood believes will account for 90% of the company's value over time. Tesla has long been Wood's top holding, accounting for 9.26% of the Ark Innovation ETF. The stock is down more than 22% year-to-date, the worst among the Magnificent 7 stocks. Related: Veteran analyst sends bold message on Palantir stock target The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Hindustan Times
10-07-2025
- Business
- Hindustan Times
Ark Investment Management chief Cathie Wood sells $47.9 million of crypto stock
Cathie Wood, chief of Ark Investment Management, sold $47.9 million of a crypto stock over the past week after it surged 37% over the past month, as per The Street. Cathie Wood, CEO of Ark Invest, speaks during an interview.(Reuters) 2025 has been a year of highs and lows for Wood. Her investments saw good rallies when Trump was to take over as POTUS earlier this year. Given that Trump's relationship with Elon Musk was blossoming at the time, Wood's bets on Tesla, her biggest, rallied. But when the Trump-Musk relationship fell out, starting around March-April 2025, and tech stocks faced a slump, Wood's investments also suffered. As of July 3, the flagship Ark Innovation ETF (ARKK) is 23.4% year-to-date, taking over the S&P 500's 6.8% gain. Investment strategy Woods' primary strategy for buying shares has always been to target emerging tech companies in sectors like artificial intelligence, blockchain, biomedical technology and robotics. These companies, according to her, have the potential to reshape entire industries altogether. However, their volatility still poses higher risks of fluctuations in Ark's funds' values. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," Wood said in a letter published to her investors in late April where she tried to allay fears of the economy slipping into a recession in 2026. According to ETF research firm VettaFi, Ark Innovation ETF witnessed $2.1 billion in net outflows over the past 12 months through July 3 and $43 million has exited the fund in the past five days. Also read: Bitcoin price today: Why BTC is going up and is this an all-time high? Sale of crypto stock Wood's ARK funds sold 137,075 shares worth $47.9 million from June 30 to July 2. Despite this sale, the company still ranks second in Ark Innovation ETF's holdings. The company recently launched its new payment service called Coinbase Payments, which allows 24/7 USD Coin (USDC) transactions. The platform has garnered interest from retailers like Amazon and Walmart and is currently already in use by Shopify. By Stuti Gupta
Yahoo
07-07-2025
- Business
- Yahoo
Cathie Wood sells $47.9 million of surging crypto stock
Cathie Wood sells $47.9 million of surging crypto stock originally appeared on TheStreet. Cathie Wood, chief of Ark Investment Management, often adjusts her top holdings, buying more stocks when prices dip and selling as they rise. In the past week, she sold a stock that has surged 37% over the past month. The first half of 2025 has been a rollercoaster for Wood's funds, moving from deep slumps to impressive rallies. 💰💸 💰💸 In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the momentum faded in March and April, with the funds trailing the market as top holdings — especially Tesla, her biggest position — slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of July 3, the flagship Ark Innovation ETF () is 23.4% year-to-date, far outpacing the S&P 500's 6.8% gain. Wood's remarkable return of 153% in 2020 helped build her reputation and attract loyal investors. Her strategy can lead to sharp gains during bull markets but also painful losses, like in 2022, when ARKK dropped more than 60%. As of July 3, Ark Innovation ETF, with $5.5 billion under management, has delivered a five-year annualized return of negative 0.56%. The S&P 500 has an annualized return of 16.69% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. According to Wood, these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood has been bullish on the market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026 and struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not all investors echo this optimism. Over the past 12 months through July 3, the Ark Innovation ETF saw $2.1 billion in net outflows, with $43 million exiting the fund in the past five days, according to ETF research firm VettaFi. From June 30 to July 2, Wood's Ark funds sold 137,075 shares of Coinbase Global Inc. () . That chunk of stocks is worth roughly $47.9 million. Coinbase runs the biggest crypto exchange in the U.S. and generates revenue through transaction fees from cryptocurrency trading on its platform. Despite Wood's recent sales, Coinbase remains the second-largest holding in the ARK Innovation ETF, accounting for 8.4% of the stock closed at $355.80 on July 3, up 37.4% over the past month, lifted by a wave of optimism around crypto regulation, product expansion, and investor interest in Bitcoin. One of the key drivers was the U.S. Senate's passage of the GENIUS Act, a bill that outlines clearer rules for stablecoins. The legislation could help ease uncertainty around crypto compliance and pushed Coinbase stock sharply higher in mid-June. Coinbase's rally also gained momentum as it launched its new payment service, Coinbase Payments, which allows 24/7 USD Coin (USDC) transactions. The platform is already being used by Shopify and has attracted interest from major retailers like Amazon and Walmart. Bernstein analysts called Coinbase 'the most misunderstood company' and raised their price target to $510 from $310, according to a research note published in late June. "The bear thesis on Coinbase has not played out," Bernstein analysts said, adding that "Coinbase's market share has been persistent despite new competition." The broader crypto rally has further supported Coinbase's recent gains. Trump's tariff policy led to Bitcoin's price falling to about $75,000 on Apr. 9 until he withdrew some of those hikes. The cryptocurrency soon bounced back and hit a new all-time high of $111,970 on May 22. Though Bitcoin's price fell below $99,000 on June 22 during the U.S.-Israel-Iran conflict, it quickly recovered above $105,000 on June 24. At the time of writing, Bitcoin was trading at $108,585. Wood recently highlighted Bitcoin's resilience amid recent crises. "Bitcoin really held its own," she said during ARK's "In The Know" show on July 3. "I think that's a very, very positive thing." Fund manager buys and sells TheStreet Stocks & Markets Podcast #8: Common Sense Investing With David Miller Veteran fund manager reboots Palantir stock price target Cathie Wood sells $9.5 million of popular AI stocks after big rally Wood has long been an advocate for Bitcoin. She has previously forecast that the cryptocurrency's price could top $1.5 million, and now she reaffirms her stance. 'We are still in a bull market for Bitcoin,' she said during the show, adding that Bitcoin has been 'threatening new highs' and acting more like a risk-off asset. She also noticed that more people are willing to hold Bitcoin and gold, 'especially during the market tremor.'Cathie Wood sells $47.9 million of surging crypto stock first appeared on TheStreet on Jul 7, 2025 This story was originally reported by TheStreet on Jul 7, 2025, where it first appeared. 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