Tumgik
#ARK Industrial Innovation ETF
thelegend9798 · 2 years
Text
How to buy stocks on the brink of a bear market
How to buy stocks on the brink of a bear market
It seemed like everyone was in a buying mood on Friday, except Elon Musk. The Dow Jones Industrial Average broke a six-day losing streak, the Nasdaq Composite turned in its second positive session in a row, and the S&P 500 was up over 2%, a small step back from the brink of a bear market, ending the week 16.50% off its 52-week high. But any single-day stock gains in this market are tenuous. The…
Tumblr media
View On WordPress
0 notes
astrocoin1 · 8 days
Text
ASTRO COIN - Your Comfortable Gateway to Cryptocurrency Trading
On January 11th, the U.S. Securities and Exchange Commission (SEC) officially approved 11 Bitcoin spot ETFs, including VanEck, Bitwise, Fidelity, Franklin, Valkyrie, Hashdex, Ark Invest, Grayscale, BlackRock, WisdomTree, and Invesco Galaxy.
The approval of Bitcoin spot ETFs in the United States marks a significant milestone for the entire cryptocurrency industry, bringing in a substantial influx of funds to the crypto market. Bitcoin surged from over $39,000 to over $65,000, igniting a frenzy in the Bitcoin market.
Currently, what's particularly hot in the market is the frenzied evolution of the cryptocurrency market. The cryptocurrency market is a very pure market, with policy impacts relatively straightforward. Therefore, trends are smoother, making it easier to seize opportunities compared to other markets where factors are more complex, increasing the difficulty of analysis and decision-making. Choosing a comfortable market like the cryptocurrency market significantly reduces the trading difficulty.
Tumblr media
ASTRO COIN Exchange Center: A Haven for Cryptocurrency Trading
ASTRO COIN Exchange Center emerged after acquiring several prominent mining companies and integrating high-quality ICO resources. It is an innovative digital cryptocurrency trading platform aimed at swiftly capturing the cryptocurrency market and becoming a leading player in the industry through cutting-edge core trading and investment functionalities.
ASTRO COIN blockchain asset trading platform offers a diverse range of digital currency trading options, including mainstream cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and emerging digital currencies. Users can engage in spot trading, contract trading, ICO trading, and other methods on ASTRO COIN Exchange to meet various investors' needs.
The ASTRO COIN trading platform also provides market analysis services to help customers promptly identify dynamic changes in the investment market and make timely decisions.
ASTRO COIN Exchange Center has fully optimized the user experience, including trading experience, enhancing platform security and stability. Security measures are set to the highest level to protect user assets, digital assets, full-chain digital wallets, and encrypted account technologies, ensuring the safety of investors' investments. Additionally, it is dedicated to creating a high-quality platform for investor education in the cryptocurrency market. ASTRO COIN Exchange Center is set to become a gathering place for many professional investors, a haven for cryptocurrency market trading.
0 notes
astrocoin · 18 days
Text
ASTRO COIN Exchange Center Navigates Bitcoin Spot ETF Approval Landscape
ASTRO COIN Exchange Center Navigates Bitcoin Spot ETF Approval Landscape
Bitcoin: It is a digital currency that originated in 2009. Compared to traditional financial systems, Bitcoin’s characteristics include decentralization, anonymity, transparency, and tamper resistance, offering various advantages.
Definition: Bitcoin, also known as digital currency or virtual currency, is a decentralized and digital currency based on a peer-to-peer network protocol. It uses encryption technology to ensure the security and anonymity of transactions, while also guaranteeing transaction transparency and no intermediary fees, allowing for round-the-clock trading. The total supply limit of Bitcoin is 21 million, and it utilizes distributed ledger technology to ensure decentralization, security, and consensus of Bitcoin.
Tumblr media
A spot Bitcoin ETF, like a special investment basket, contains real Bitcoin rather than derivative products or stocks of related companies. This basket can be bought and sold on the stock market like regular stocks.
Grayscale first submitted an application for a Bitcoin ETF in 2016 and engaged in discussions with the U.S. Securities and Exchange Commission (SEC) for most of 2017. The company ultimately withdrew the application, believing that the regulatory environment for digital assets had not developed to the extent that such a product could be successfully launched.
Asset management company Bitwise applied for a physically backed Bitcoin ETF in 2019, but withdrew its request in January 2020 due to concerns about the SEC.
In mid-2023, asset management giants began a new wave of applications for spot Bitcoin ETFs. On April 25, 2023, Cboe BZX Exchange filed for and submitted rule changes for the ARK 21 Shares Bitcoin ETF, and on May 15, the modified ARK 21 Shares Bitcoin ETF was officially announced and solicited comments in the U.S. Federal Register, marking the start of the ETF approval process. In June, several asset management giants including BlackRock, Fidelity, Bitwise, and Invesco, announced the submission of applications for spot Bitcoin ETFs. Subsequently, the SEC delayed the announcement date for their decisions.
On January 10, 2024, documents from the U.S. Securities and Exchange Commission (SEC) revealed that the SEC approved 11 spot Bitcoin ETFs, injecting a large amount of funds into the Bitcoin market and driving continuous price increases for Bitcoin.
ASTRO COIN Exchange Center emerged after acquiring several important mining companies in the industry and integrating high-quality ICO qualification resources. It is an innovative digital cryptocurrency trading platform aimed at swiftly seizing the cryptocurrency market and becoming a leader in the industry through the latest reformed core trading and investment functions. The ASTRO COIN Exchange Center system optimizes user experience comprehensively, including trading experience, enhancing platform security and stability. The trading security level is set to the highest level to protect user assets, digital assets, full-chain digital wallets, and encrypted account technology to safeguard investor investments. Additionally, it is dedicated to creating a high-quality platform for educating cryptocurrency market investors.
0 notes
bitcoincables · 2 months
Text
Spot Bitcoin ETFs Gain Approval, Attracting Pent-Up Demand in the US
💰 The US Securities and Exchange Commission has given the green light to several spot bitcoin ETFs, which started trading on Thursday. These ETFs allow investors to gain exposure to bitcoin through traditional brokerage accounts, making it easier for financial advisers to invest on behalf of their clients. On the first day of trading, the spot bitcoin ETFs generated a total trading volume of $275 million, reflecting the strong demand for such products. Some of the competing funds, including those offered by Grayscale, BlackRock, and Fidelity, saw even more activity. The approval of spot bitcoin ETFs is expected to pave the way for greater institutional adoption of cryptocurrencies. 📈 Ophelia Snyder, president of 21Shares, one of the firms that launched a spot bitcoin ETF, stated that the volumes on the first day of trading are an indicator of the "pent-up demand" for these products. She believes there will be a second wave of activity in the coming weeks and months as crypto becomes more mainstream. The introduction of spot bitcoin ETFs is significant because it allows investment professionals who were previously unable to buy crypto to access the market on behalf of their clients. Surveys have shown that a large number of financial advisers were either unable to purchase crypto or unsure if they could. The approval of spot bitcoin ETFs is expected to address these concerns and open up the market to a broader range of investors. 🚀 The partnership between Ark Invest and 21Shares has resulted in the launch of spot bitcoin ETFs in the US. Ark Invest is known for its focus on disruptive innovation, while 21Shares has been operating crypto exchange-traded products in Europe for years. Snyder explained that prior to the availability of spot bitcoin ETFs, financial advisers had limited options for investing in crypto and would have to set up separate systems to support such investments. With the introduction of these ETFs, investment professionals can now buy bitcoin within their existing infrastructure, making it easier and more convenient to enter the crypto market. While it may take some time for adoption to fully take off, Snyder expects the spot bitcoin ETFs to attract more investors over time. 👀 The approval of spot bitcoin ETFs has sparked interest from various firms in the crypto industry. Competitors such as Bitwise, Hashdex, and VanEck have launched marketing campaigns to attract investors. However, Ark Invest and 21Shares are taking a different approach. Rather than focusing on the "cool" factor of crypto, they aim to bring in new investors who are curious about the technology. Their messaging emphasizes the support and guidance they can provide to those who are new to the crypto space. They want people to feel confident and welcomed into the crypto community, encouraging them to explore the potential of cryptocurrencies like bitcoin as a new way of thinking about money. Read the original article on Blockworks: "21Shares CEO: Spot Bitcoin ETFs Attract 'Pent-Up Demand'" #bitcoin #ETFs #cryptocurrency #investment https://www.tumblr.com/tagged/bitcoin https://www.tumblr.com/tagged/ETFs https://www.tumblr.com/tagged/cryptocurrency https://www.tumblr.com/tagged/investment
0 notes
web3broadcast · 4 months
Text
Thematic Investing with ETFs
Tumblr media
Thematic investing has emerged as a compelling strategy for investors looking to align their portfolios with specific trends, industries, or ideas that are expected to drive long-term growth. Exchange-Traded Funds (ETFs) provide a convenient and diversified avenue for thematic investing, allowing investors to capitalize on targeted opportunities within the market. In this exploration, we delve into the concept of thematic investing with ETFs, examining how this strategy works, its advantages, and key considerations for investors. Understanding Thematic Investing Thematic investing involves focusing on specific themes or trends that are expected to shape the future economy. These themes can range from technological innovations and demographic shifts to environmental sustainability and social changes. Unlike traditional sector-based investing, thematic investing cuts across various industries and sectors, capturing companies that contribute to a particular theme. The Role of ETFs in Thematic Investing: ETFs are investment funds that are traded on stock exchanges, mirroring the performance of a specific index or a basket of assets. Thematic ETFs are designed to track the performance of a particular theme or trend. Investors can buy shares of these ETFs, gaining exposure to a diversified portfolio of companies associated with the chosen theme. Advantages of Thematic Investing with ETFs: - Diversification: Thematic ETFs provide investors with exposure to a diversified basket of stocks related to a specific theme. This diversification helps spread risk and reduces the impact of poor-performing individual stocks. - Simplicity: Thematic ETFs offer simplicity in gaining exposure to complex and emerging themes. Investors can participate in trends such as artificial intelligence, clean energy, or disruptive technologies without the need for in-depth research on individual companies. - Liquidity and Accessibility: ETFs trade on stock exchanges like individual stocks, providing liquidity and ease of trading. Investors can buy or sell shares throughout the trading day at market prices. - Cost Efficiency: ETFs generally have lower expense ratios compared to actively managed funds. This cost efficiency is particularly attractive for investors seeking exposure to thematic trends without incurring high management fees. - Long-Term Growth Potential: Thematic investing often targets trends with long-term growth potential. ETFs focusing on themes like renewable energy, genomics, or cybersecurity aim to capture the benefits of sustained industry growth over time. Considerations for Thematic Investors: - Research and Due Diligence: While thematic ETFs offer simplicity, investors should still conduct thorough research on the underlying theme, the index methodology, and the individual holdings within the ETF. - Volatility: Thematic investing can be more volatile than traditional diversified portfolios. Investors should be prepared for price fluctuations, especially in themes associated with emerging technologies or disruptive innovations. - Alignment with Investment Goals: Thematic investing should align with an investor's overall financial goals and risk tolerance. It is crucial to consider thematic exposure as part of a well-balanced and diversified portfolio. - Monitoring and Rebalancing: Given the dynamic nature of themes, investors should regularly monitor their thematic ETF holdings. Rebalancing may be necessary to adjust to changing market conditions or the evolution of the chosen theme. Examples of Thematic ETFs: - ARK Innovation ETF (ARKK): Focuses on disruptive innovation across various sectors. - Invesco Solar ETF (TAN): Tracks companies in the solar energy industry. - Global X Robotics & Artificial Intelligence ETF (BOTZ): Invests in companies involved in robotics and artificial intelligence. In conclusion, thematic investing with ETFs provides investors with a strategic and diversified approach to capitalize on emerging trends and themes. As investors navigate the dynamic landscape of thematic opportunities, careful consideration, research, and alignment with long-term goals remain key factors in achieving success with this investment strategy. Read the full article
0 notes
darwinenterprise · 5 months
Text
Women Who Conquered the Financial Market: 3 Inspiring Stories
Try to think of three famous successful investors. If you are interested in the financial market, you will probably think of Warren Buffett, George Soros, Benjamin Graham and perhaps a few other names. However, these names are unlikely to be female. Not much is known about successful women in the financial market, although their stories are no less motivating. And today we want to change it by telling three such stories.
Tumblr media
Catherine Wood: Taking off on the wings of innovation
Catherine Wood is the founder and soul of ARK Invest, Wood is focused on long-term innovation and technology that she believes will change the world.
Tumblr media
ARK Invest initially attracted attention for its bold bets on companies like Tesla when most doubted their potential. Wood saw the future in electric cars, artificial intelligence, robotics and genetic engineering — and she was not mistaken. Her signature approach to investing, combining deep research with a determination to go against the crowd, has generated impressive returns for the fund and her clients. In 2018, its ARK Innovation ETF was named the best ETF of the year.
Catherine Wood looks for companies that can become leaders of the future. She is an example of an investor who is not afraid to take risks in pursuit of innovation, making her story especially important for anyone seeking investment success.
Abigail Johnson: From analyst to financial empress
Tumblr media
Abigail Johnson, who owns and operates Fidelity Investments, is one of the most influential figures in the world of finance. Taking over the company founded by her grandfather, Johnson not only continued the family business, but also significantly transformed it, bringing innovation and innovative approaches to an industry that often seems conservative.
She joined Fidelity as an analyst and rose to the top as she transformed the company into the digital age by focusing on technology and online investment services. Under her leadership, Fidelity invested in the development of new financial products and services, strengthening its position in the market. In 2019, her company managed assets totaling more than seven trillion dollars.
Abigail Johnson has proven that even in established and traditional sectors of the economy, there is room for innovation. Her ability to see the future of finance and adapt to a changing world makes her a role model not only for women, but for all investors.
Muriel Siebert: First woman on the New York Stock Exchange
Tumblr media
Muriel Siebert was the first woman to earn a seat on the New York Stock Exchange (NYSE) and the first woman to head a member firm of the NYSE. She joined the 1,365 male brokers on the NYSE in 1967 and eventually built a successful career.
In 1977, she became chief banker of New York State, with control over all banks in the state, regulating about $500 billion. Not a single bank went bankrupt during her work, despite the crises.
Conclusion
The stories of Catherine, Abigail and Muriel are powerful examples of how perseverance, innovative thinking and financial savvy can conquer the financial markets despite all the obstacles. They have broken barriers and become an inspiration to women seeking success in investing and business.
If these stories have lit a spark in you and a desire to act, then the DarWomen women's community is waiting for you. Join the community of like-minded women! Together we will move towards financial and personal growth!
0 notes
ailtrahq · 6 months
Text
ARK Invest and 21Shares have amended their filing for a bitcoin exchange-traded fund (ETF). Experts consider it a sign of working jointly with the U.S. SEC. The amendment, filed on Oct. 11, provides more details on the proposed ETF, including its name, ticker symbol, fee structure, and custodian. The document now has five pages added — allegedly, following the the Securities and Exchange Commission (SEC) comments. ETF analyst at Bloomberg Erich Balchunas calls the amendment of the ETF a sign of good progress. There's 5 extra pages in new S-1 but the new stuff is sprinkled throughout like the two above egs. So what does this mean? It means ARK got the SEC's comments and has dealt with them all, and now put ball back in SEC's court. IMO good sign, solid progress.— Eric Balchunas (@EricBalchunas) October 11, 2023 Ark Invest and 21Shares ETF According to the filing, the ETF will be called the ARK 21Shares Bitcoin ETF. It will trade under the symbol ARKB on the NYSE Arca exchange. The ETF will charge a management fee of 0.95% per year, lower than some other bitcoin ETF applications pending before the SEC. The ETF will also use Coinbase Custody Trust Company as its custodian, holding the Bitcoin (BTC) on behalf of the fund in cold storage. The ARK 21Shares Bitcoin ETF aims to provide exposure to the price of bitcoin by tracking the performance of the S&P Bitcoin Index, which is calculated by CF Benchmarks. The index uses prices from five bitcoin exchanges: Coinbase, Bitstamp, itBit, Kraken, and Gemini. The ETF will not invest directly in bitcoin but will buy and sell bitcoin futures contracts and other derivatives on the Chicago Mercantile Exchange (CME) and other regulated exchanges. The filing states that the ETF will offer investors several benefits, such as access to a regulated and transparent market for bitcoin exposure, diversification of portfolio risk, and lower costs and operational risks than holding bitcoin directly. The filing also acknowledges some risks involved in investing in the ETF, such as market volatility, regulatory uncertainty, cyberattacks, and valuation challenges. The SEC has not yet approved any bitcoin ETFs in the U.S., despite receiving dozens of applications from various issuers. The regulator has delayed or rejected several proposals, citing concerns over market manipulation, investor protection, and lack of surveillance agreements with bitcoin exchanges. However, some analysts and industry experts are optimistic that the SEC will finally approve a bitcoin ETF this year or next year, as the crypto market matures and more institutional investors enter the space . The ARK 21Shares Bitcoin ETF is one of the most anticipated bitcoin ETFs in the U.S., as it combines the expertise and reputation of two leading firms in the crypto and innovation sectors. The SEC has designated December 8, 2023 as the date by which it will approve or disapprove the ARK 21Shares Bitcoin ETF. If approved, the ETF will be the first of its kind in the U.S. and will likely attract significant demand from investors who want to gain exposure to bitcoin in a convenient and regulated way. ARK Invest is an investment management firm founded by Cathie Wood in 2014. The company focuses on investing in disruptive innovation and cutting-edge technologies. ARK Invest manages several ETFs, including its flagship fund, the Ark Innovation ETF (ARKK). This ETF has gained significant attention and popularity due to its impressive returns in recent years. 21Shares, on the other hand, is a Swiss-based investment firm that specializes in cryptocurrency exchange-traded products (ETPs). The company offers a range of ETPs that track the performance of various cryptocurrencies, including Bitcoin, Ethereum, and others. 21Shares ETF provides investors with a convenient way to gain exposure to the crypto market without directly owning the underlying assets. .
0 notes
money-matterz · 8 months
Text
Cathie Wood: A Trailblazing Investment Journey into the Future
Cathie Wood, an exceptional investment professional, has carved her name as one of the most remarkable investors of our time. As the CEO and CIO of Ark Invest, she oversees a vast portfolio of cutting-edge technology startups, deviating from the traditional norms of her contemporaries. Despite skepticism from some in the industry, Wood's determination and foresight have earned her a cult-like following. This article explores the captivating investment journey of Cathie Wood, her significant net worth, and the innovative investment philosophy that sets her apart.
I. Early Beginnings and the Ascent to Fame:
Cathie Wood's passion for finance was ignited during her university years, and she pursued her dreams by graduating summa cum laude with a BSc Degree in Finance and Economics in 1981 from Southern California. Her early career commenced at Capital Group, where she served as an assistant economist, and later at Jennison Associates, where she held various prominent roles. Her pivotal moment in the spotlight came when she engaged in a debated with renowned economist Henry Kaufman, establishing herself as a formidable force in the financial world.
II. Cathie Wood's Net Worth and Investment Success:
Throughout her four-decade-long career, Cathie Wood has generated significant wealth in finance. Her entrepreneurial spirit led her to establish her investment management firm, Ark Invest, in 2014. The company witnessed a meteoric rise, managing billions of dollars in assets, and catapulting Wood's net worth to almost $400 million in 2021. However, subsequent market fluctuations and macroeconomic factors brought challenges to Ark Invest, leading to a reduction in the company's portfolio value. Yet, Wood remains resolute in her belief in disruptive technologies.
III. Unraveling Cathie Wood's Investment Philosophy:
Cathie Wood's investment philosophy takes a unique approach, distinguishing her from traditional investors like Warren Buffett. Instead of focusing on historical data and short-term trends, she adopts a thematic investment strategy that emphasizes identifying disruptive technologies with promising long-term potential. Wood's investment decisions are driven by a vision of the future, seeking to capitalize on early adoption opportunities in transformative industries.
IV. The Core of Cathie Wood's Investment Areas:
Central to Wood's investment strategy is a diversified portfolio with a focus on innovation. She places her faith in companies operating in groundbreaking sectors such as artificial intelligence, electric vehicles, genomics, robotics, and blockchain technology. Notable holdings like Tesla, Roku, Zoom, and Shopify demonstrate her commitment to investing in pioneering companies with the potential to revolutionize industries.
V. Cathie Wood's Belief in Cryptocurrencies:
Wood is an ardent advocate for cryptocurrencies, particularly Bitcoin, and her belief in the transformative power of blockchain technology is unwavering. Despite market volatility, she remains optimistic about the future of cryptocurrencies and their potential to disrupt traditional financial systems. Her bold prediction of Bitcoin reaching $1 million by 2030 has sparked discussions and debates within the investment community.
VI. The Triumph of Ark Invest's ETFs:
Ark Invest's actively managed exchange-traded funds (ETFs) have garnered widespread attention and admiration. Reflecting Wood's thematic investment approach, these ETFs provide exposure to innovation-driven sectors like genomics, robotics, fintech, and space exploration. Despite market challenges, Wood's forward-looking investment approach has earned both praise and scrutiny, with her ETFs offering investors the opportunity to be part of groundbreaking technologies.
VII. Recognition and Impact:
Cathie Wood's exceptional investment acumen has been recognized through various accolades and acknowledgments. She was included in the inaugural 50 over 50 list and hailed as the best stock picker of 2020 by Bloomberg's Matthew A. Winkler. As a featured speaker at the World Economic Forum, Wood's influence and impact on the financial landscape have been further emphasized.
VIII. Cathie Wood's Unwavering Optimism and Innovation:
One of the defining features of Cathie Wood's investment journey is her unwavering optimism and passion for innovation. Unlike traditional investors who may be risk-averse, Wood embraces the volatility and uncertainty of the market. She sees challenges as opportunities and welcomes the disruptive forces shaping industries. This unbridled enthusiasm has earned her the moniker "Queen Cathie" or "Cathie Bae" among her admirers in pop culture.
IX. Weathering Market Storms:
Ark Invest's portfolio has faced its share of storms and challenges. The bear market and various macroeconomic factors in 2021 led to a significant reduction in the company's portfolio value. However, Cathie Wood's steadfast belief in the potential of her investments has allowed her to weather the storm with a long-term perspective. She remains committed to the innovative companies she supports, confident that their technologies will create lasting value.
X. Impacting the Future:
Cathie Wood's visionary investment philosophy goes beyond financial gains. She is deeply passionate about supporting companies that are solving global challenges and transforming industries for the better. Her investments in technologies like AI, genomics, and electric vehicles hold the promise of reshaping the world and improving lives. Wood's influence on the direction of capital flows is evident in how she directs investment into these sectors, driving innovation and progress.
To Conclude
Cathie Wood's investment journey is a testament to the power of foresight and conviction in the world of finance. Her unorthodox investment strategy, coupled with her unwavering commitment to innovative technologies, has led her to the pinnacle of success. Despite challenges, Wood's belief in disruptive technologies and the potential of blockchain and cryptocurrencies remains steadfast. As she continues to navigate the dynamic landscape of finance, Cathie Wood's net worth and influence are destined to grow, leaving an indelible mark on the investment world. Her visionary investment philosophy will continue to shape the future, making Cathie Wood a trailblazing force in the financial industry for generations to come.
1 note · View note
mubashirnews · 1 year
Text
Cathie Wood's ARK ETF Logs Best Month Ever in January
Cathie Wood’s flagship ETF – the ARK Innovation Fund – performed better in January than in any other month since it launched in 2014.  This comes after a brutal down year for the fund, which focuses on long-term investment in disruptive technologies – including the crypto industry.  ARK Bounces Back In January, ARK registered a total gain of about 28%, with a 3.7% gain on Tuesday alone. Starting…
Tumblr media
View On WordPress
0 notes
newzzwired · 1 year
Text
1 Cathie Wood Stock to Buy While It's Affordable, and 1 to Avoid (for Now)
1 Cathie Wood Stock to Buy While It’s Affordable, and 1 to Avoid (for Now)
Cathie Wood’s Ark Innovation ETF (ARKK 0.23%) is a one-stop shop for hot growth stocks that have the potential to disrupt their industries and make investors significantly richer in the process. But with hype comes high valuations, and with high valuations comes the risk of sharp declines during bear markets — like during this year, when the ETF crashed by 68%. Some of the components of the Ark…
Tumblr media
View On WordPress
0 notes
trylkstopocket · 1 year
Text
ARK’s Cathie Wood weighs in on venture capital and her plans to launch a crossover fund
Venture capitalists may be predicting trouble ahead for the private markets—but Cathie Wood has always danced to the beat of her own drum.
The chief executive of ARK Invest, the asset manager known for its bold—and risky—bets on tech and innovation, said yesterday afternoon that ARK is planning to launch a fund that will invest across both public and private markets. Right now, ARK’s funds invest solely in public equities.
“We’re going to start a crossover fund,” Wood said in an on-stage interview at the UP.Summit, a mobility conference taking place in Bentonville, Ark. this week. Wood declined to speak further about the fund because of Securities and Exchange Commission regulation, but an SEC filing from earlier this year reveals it will be a closed-end fund that will invest in public equities, early to late-stage startups, and venture capital funds, among other investments.
While ARK may be known for its ETFs, whose performance soared to remarkable heights during the pandemic, Wood isn’t new to the world of private investing. She is personally a limited partner in UP.Partners, a $230 million early-stage venture capital fund focused on mobility, whose partners are co-hosting the Summit in Bentonville.
But while it may not be an entirely new rodeo for Wood, it’s still a rather challenging time to debut a crossover fund. Hedge funds like D1 Capital Partners or Tiger Global that straddle both public and private investments have reported billions in losses this year as public tech stocks plunge, and Wood’s publicly traded funds have tumbled, with its flagship ARK Innovation ETF trading more than 50% lower than it was in January. 
With the path to an IPO largely closed for the moment, and some of the industry’s tech darlings starting to cut their valuations, asset managers like Fidelity are proactively trimming the value of their own positions and players like T. Rowe Price are rolling back their pace of deals. Some growth equity investors are turning focus to earlier-stage investments or companies most poised for profitability.
Wood made her name taking early—and sizable—bets on Tesla and, more recently, cryptocurrencies like Bitcoin. She likens ARK’s approach to the public markets to venture investing: “We are the closest thing you’ll find to venture capital funds in the public equity markets,” she says. But she’s also critical of how VCs are moving their money in the space. Wood mentioned that, at a former UP.Summit in 2018, venture capitalists repeatedly got up on stage complaining of high costs and said “oh, we would never invest in this.”
“There is a lot of capital moving into the asset-light part of the business,” Wood says, but she says that funds are still avoiding investments in companies that are spending a lot on the hardware or underlying technology. “We think that will change,” she says.
And she knows just the fund manager with the guts to do it. 
Jackson Fordyce curated the deals section of today’s newsletter.
VENTURE DEALS
Multiverse, a London-based career apprenticeship platform, raised $220 million in Series D funding.** StepStone Group**, Lightspeed Venture Partners, and General Catalyst co-led the round and were joined by investors including** Founders Circle Capital, Audacious Ventures**, BOND, D1 Capital Partners, GV, and Index Ventures. 
CareBridge, a Nashville-based health care company for patients receiving home and community-based services, raised $140 million in funding led by Oak HC/FT.
Vanta, a San Francisco-based compliance and software automation security company, raised $110 million in Series B funding. Craft Ventures led the round and was joined by investors including Sequoia and YC.  
Codat, a London-based software startup connecting small businesses with financial institutions, raised $100 million in funding. JPMorgan Chase’s growth-equity arm led the round and was joined by investors including Canapi Ventures, and Shopify,Index Ventures, and PayPal Ventures. 
Ever/Body, a New York-based cosmetic dermatology and med spa company, raised $55.5 million in Series C funding. Addition led the round and was joined by investors including Tiger Global, ACME Capital, Declaration Partners, Fifth Wall Ventures, and Imaginary Ventures.
HYCU, a Boston-based cloud data protection company, raised $53 million in Series B funding. Acrew Capital led the round and was joined by investors including Bain Capital Ventures, Atlassian Ventures, and Cisco Investments. 
Anagenex, a Boston-based machine learning-enabled, small molecule, drug discovery company, raised $30 million in Series A funding. Catalio Capital Management led the round and was joined by investors including Lux Capital, Khosla Ventures, Obvious Ventures, Airstreet Capital, and Menlo Ventures. 
CreativeX, a New York-based data platform for brands, raised $25 million in funding. Guggenheim Investments on behalf of certain clients, Beringea, the Brandtech group, and Conviction invested in the round. 
Entropy, a Brooklyn, New York-based crypto custody platform, raised $25 million in seed funding. a16z led the round and was joined by investors including Dragonfly Capital, Ethereal Ventures, Variant, Coinbase Ventures,** Robot Ventures**, Inflection, the Komerabi Fund, and other angels. 
Skolem Technologies, a New York-based asset management and execution services provider, raised $20 million in Series A funding. Galaxy Digital led the round and was joined by investors including Point72 Ventures, Jump Crypto, Fenwick and West, Morpheus Ventures, and Dragonfly Capital.
Continual, a San Francisco-based operational A.I. platform for data stacks, raised $14.5 million in Series A funding. Innovation Endeavors led the round and was joined by investors including Amplify Partners,** Illuminate Ventures**, Inspired Capital, Data Community Fund, Activation, New Normal, GTMfund, Dremio founder Tomer Shiran, and dbt Labs founder Tristan Handy.
Teleo, a Palo Alto-based construction robotics company, raised $12 million in Series A funding. UP.Partners led the round and was joined by investors including F-Prime Capital,** K9 Ventures**, Trucks Venture Capital, and other angels. 
​​Valkyrie Investments, a Nashville-based investment manager focused on digital assets, raised $11.15 million in funding. BNY Mellon, Wedbush Financial Services, Clearsky, Zilliqa Capital, C-Squared Ventures, Belvedere Strategic Capital, and **SenaHill Partners **invested in the round. 
Securesave, a Seattle-based emergency savings fintech platform, raised $11 million in funding. Truist Ventures led the round and was joined by investors including Stearns Financial Services and FTX.
Decimal, an Indianapolis-based accounting automation platform, raised $9.22 million in seed funding. Arthur Ventures **led the round and was joined by **Service Providers Capital and other angels. 
Shoreline, a Stavanger, Norway-based workflow automation and asset simulation SaaS company for the wind industry, raised $7.5 million in funding. Ecosystem Integrity Fund, Blue Bear Capital, Ferd Capital, Alliance Venture, and Investinor invested in the round.
Extracker, a San Francisco-based change order communication platform for the construction industry, raised $7 million in Series A funding. Cloud Apps Capital Partners led the round and was joined by investors including Building Ventures and Jackson Square Ventures.
Overalls, a New York-based insurance-based benefits company, raised $4.6 million in funding. RPM Ventures led the round and was joined by investors including** Frontier Ventures**, former NFL player Jerod Mayo, and others. 
Five to Nine, a Chicago-based employee initiative software management platform, raised $4.25 million in seed funding. Black Ops Ventures led the round and was joined by investors including Slack Fund and Cleveland Avenue.
Curio, a Santa Monica, Calif.-based NFT analysis, raised $3.7 million in a seed funding round. 776 led the round and was joined by investors including Gary Vee,** Cozomo de Medici**, Polygon CEO JD Kanani, OpenSea CEO Devin Finzer, OrangeDAO, Coinbase Ventures, and other angels.
De Oro Devices, a San Luis Obispo, Calif.-based medtech startup specializing in Parkinson’s and other mobility disorders, raised $2.8 million in seed funding. True Wealth Ventures led the round and was joined by investors including AARP, StartUp Health, Capital Factory, Wai Mohala Ventures, Kachuwa Impact Fund, Barton Investments, HealthTech Capital, Wealthing VC Club, Rockies VC, and** Mentors Fund**. 
PRIVATE EQUITY
Citizens Financial Group, acquired DH Capital, a New York-based private investment banking firm. Financial terms were not disclosed. 
Mercer Global Advisors, backed by Oak Hill Capital and Genstar Capital, acquired Berkson Asset Management, a Woodland Hills, Calif.-based tax and accounting firm. Financial terms were not disclosed. 
OTHER
​​Descartes Systems Group acquired XPS Technologies, a Cottonwood Heights, Utah-based ecommerce multi-carrier parcel shipping solutions provider, for $65 million. 
Achieve Partners acquired a majority stake in Boclips, a Boston-based educational video platform for student learning. Financial terms were not disclosed. 
Desert Peak Minerals and Falcon Minerals have merged creating Sitio Royalties, a Denver-based oil & gas, mineral, and royalty interests company. Financial terms were not disclosed.  
DotCom Therapy acquired Wolf+Friends, a New York-based community for parents and families raising children with special needs. Financial terms were not disclosed.  
WorkGenius acquired JBC, a New York-based staffing company, financial terms were not disclosed. 
FUNDS + FUNDS OF FUNDS
-** Biospring Partners**, a New York-based growth equity firm, raised $245 million for a fund focused on tech companies in the life sciences sector.
PEOPLE
CapitalG, the San Francisco-based growth fund of Google parent company Alphabet, hired Melissa Sobel as communications partner and Stanley Onyimba as vice president of growth. Formerly, Sobel led a VC-focused communications consultancy and Onyimba was with Google Search.
This is the web version of _Term Sheet, _a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox.
0 notes
astrocoin1 · 14 days
Text
ASTRO COIN - Unveiling the Future of Bitcoin Investment with ETFs
Bitcoin: It is a digital currency that originated in 2009. Compared to traditional financial systems, Bitcoin's characteristics include decentralization, anonymity, transparency, and tamper resistance, offering various advantages.
Definition: Bitcoin, also known as digital currency or virtual currency, is a decentralized and digital currency based on a peer-to-peer network protocol. It uses encryption technology to ensure the security and anonymity of transactions, while also guaranteeing transaction transparency and no intermediary fees, allowing for round-the-clock trading. The total supply limit of Bitcoin is 21 million, and it utilizes distributed ledger technology to ensure decentralization, security, and consensus of Bitcoin.
A spot Bitcoin ETF, like a special investment basket, contains real Bitcoin rather than derivative products or stocks of related companies. This basket can be bought and sold on the stock market like regular stocks.
Tumblr media
Grayscale first submitted an application for a Bitcoin ETF in 2016 and engaged in discussions with the U.S. Securities and Exchange Commission (SEC) for most of 2017. The company ultimately withdrew the application, believing that the regulatory environment for digital assets had not developed to the extent that such a product could be successfully launched.
Asset management company Bitwise applied for a physically backed Bitcoin ETF in 2019, but withdrew its request in January 2020 due to concerns about the SEC.
In mid-2023, asset management giants began a new wave of applications for spot Bitcoin ETFs. On April 25, 2023, Cboe BZX Exchange filed for and submitted rule changes for the ARK 21 Shares Bitcoin ETF, and on May 15, the modified ARK 21 Shares Bitcoin ETF was officially announced and solicited comments in the U.S. Federal Register, marking the start of the ETF approval process. In June, several asset management giants including BlackRock, Fidelity, Bitwise, and Invesco, announced the submission of applications for spot Bitcoin ETFs. Subsequently, the SEC delayed the announcement date for their decisions.
On January 10, 2024, documents from the U.S. Securities and Exchange Commission (SEC) revealed that the SEC approved 11 spot Bitcoin ETFs, injecting a large amount of funds into the Bitcoin market and driving continuous price increases for Bitcoin.
ASTRO COIN Exchange Center emerged after acquiring several important mining companies in the industry and integrating high-quality ICO qualification resources. It is an innovative digital cryptocurrency trading platform aimed at swiftly seizing the cryptocurrency market and becoming a leader in the industry through the latest reformed core trading and investment functions. The ASTRO COIN Exchange Center system optimizes user experience comprehensively, including trading experience, enhancing platform security and stability. The trading security level is set to the highest level to protect user assets, digital assets, full-chain digital wallets, and encrypted account technology to safeguard investor investments. Additionally, it is dedicated to creating a high-quality platform for educating cryptocurrency market investors.
0 notes
primorcoin · 1 year
Photo
Tumblr media
New Post has been published on https://primorcoin.com/ftx-bankruptcy-filing-details-binances-crypto-industry-fund-and-a-u-s-cbdc-pilot-hodlers-digest-nov-13-19/
FTX bankruptcy filing details, Binance’s crypto industry fund and a U.S. CBDC pilot: Hodler’s Digest, Nov. 13-19
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
SBF received $1B in personal loans from Alameda: FTX bankruptcy filing
Documentation related to FTX’s bankruptcy proceedings revealed the firm was mismanaged on multiple levels. FTX Group was reportedly composed of multiple companies categorized into four silos. A $1 billion personal loan was reportedly allocated to former FTX CEO Sam Bankman-Fried from one of those silos. The documentation also revealed many other holes and oddities relating to the function of FTX. Several regulators are reportedly looking into FTX, including the Securities Commission of the Bahamas. The Financial Industry Regulatory Authority, a self-regulatory U.S. organization, has also opened a broader investigation into crypto-involved companies in general, evaluating their communications with the retail public.
Binance creates industry recovery fund to help projects struggling with liquidity
Binance CEO Changpeng Zhao unveiled his work on a new fund to help the struggling crypto sector — a sector which has been negatively affected by the fall of FTX. Zhao’s new fund looks to help by assisting “strong” crypto industry companies that have liquidity issues, the CEO said in a Nov. 14 tweet. Such companies should reach out to Binance Labs, as well as players looking to add capital to the fund. The fund will not go toward helping FTX, however, as specified by Zhao.
Read also
Features
How to prepare for the end of the bull run, Part 1: Timing
Features
Storming the ‘last bastion’: Angst and anger as NFTs claim high-culture status
NY Fed launches 12-week CBDC pilot program with major banks
For the next three months, the Federal Reserve Bank of New York’s Innovation Center will test a simulated central bank digital currency (CBDC) system with the cooperation of multiple banking behemoths. Citigroup, PNC Bank, BNY Mellon, Wells Fargo and others will transact simulated tokenized money via a distributed ledger, settled against simulated central bank reserves.
The FTX contagion: Which companies were affected by the FTX collapse?
The recent downfall of FTX has impacted the overall crypto space in multiple ways — from increased regulatory watch to companies having assets stuck with FTX. More than 10 companies have reported having felt negative effects from the FTX ordeal, often with millions of dollars in jeopardy. Companies include Galaxy Digital, Sequoia Capital, BlockFi, Crypto.com and Pantera Capital, among others. At this stage, the impacts on the affected companies do not appear to be devastating for the most part, although the details vary.
SEC pushes deadline to decide on ARK 21Shares spot Bitcoin ETF to January 2023
The wait continues for a decision on ARK 21Shares’ spot Bitcoin exchange-traded fund (ETF) from the United States Securities and Exchange Commission (SEC). The regulator has pushed its decision deadline to Jan. 27, 2023 regarding a rule change that would allow listing of the mainstream Bitcoin product. The commission has delayed its decision twice before on this particular product. Numerous Bitcoin ETFs have faced denials from the SEC in the past.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $16,577, Ether (ETH) at $1,205 and XRP at $0.38. The total market cap is at $828.34 billion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Trust Wallet Token (TWT) at 93.40%, GMX (GMX) at 20.40% and Toncoin (TON) at 18.41%.
The top three altcoin losers of the week are Casper (CSPR) at -20.66%, Solana (SOL) at -20.25% and Cronos (CRO) at -18.58%.
For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Read also
Features
Despite the bad rap, NFTs can be a force for good
Features
This is how to make — and lose — a fortune with NFTs
Most Memorable Quotations
“In systems where there is no self-custody, the custodians accumulate too much power and then they can abuse that power.”
Michael Saylor, executive chairman of MicroStrategy
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
John Ray III, new CEO of FTX
“I repeat… EXIT ALL THE MARKETS”
Il Capo Of Crypto, independent cryptocurrency trader and analyst
“Everything would be ~70% fixed right now if I hadn’t [filed for Chapter 11 bankruptcy]. […] But instead I filed, and the people in charge of it are trying to burn it all to the ground out of shame.”
Sam Bankman-Fried, former CEO of FTX
“I’m sure there are multiple players that will probably get impacted […] in the following weeks, you know, small, large — but I would say [FTX] in terms of magnitude will be one of the larger ones before the whole cycle really ends.”
CK Zheng, co-founder of ZX Squared Capital
“To date, efforts by billionaire crypto bros to deter meaningful legislation by flooding Washington with millions of dollars in campaign contributions and lobbying spending have been effective.”
Brad Sherman, United States Congressman
Prediction of the Week 
Bitcoin price may still drop 40% after FTX ‘Lehman moment’ — Analysis
Bitcoin fell below $16,000 early in the week. The asset subsequently rallied back to $17,000, only to face rejection around the level on multiple occasions throughout the week, according to Cointelegraph’s BTC price index. 
Due to the FTX situation, QCP Capital now expects that BTC may possibly fall to $12,000, according to its Elliot Wave theory chart analysis. 
“This underperformance of all crypto assets is here to stay until the bulk of uncertainty has cleared up — likely only near the turn of the new year,” QCP said on Telegram.
FUD of the Week 
Crypto.com accidentally sends 320k ETH to Gate.io, recovers funds days after
Speculation about the health and solvency of Crypto.com reached a boiling point this week after the digital asset exchange sent 340,000 ETH to Gate.io. The transfer was flagged as suspicious by some members of the crypto community because it occurred around the time that exchanges were publishing proof-of-reserves in the wake of FTX’s collapse. Crypto.com claims that 100% of user-owned cryptocurrencies are held in cold storage, so the transfer to Gate.io was confusing to some crypto sleuths. Crypto.com CEO Kris Marszalek later revealed that the funds were sent to Gate.io accidentally.
Huobi and Gate.io under fire for allegedly sharing snapshots using loaned funds
Speaking of Gate.io, it along with crypto exchange Huobi has been under fire for allegedly sharing outdated snapshots of its digital asset reserves that included loaned funds. Obviously, some investors were suspicious that Gate.io received a top-up from Crypto.com before publishing its proof-of-reserves. However, Gate.io founder Lin Han revealed that the snapshot in question was taken on Oct. 19, two days before Crypto.com accidentally transferred 240,000 ETH. Huobi, meanwhile, has yet to explain why it transferred 10,000 ETH to Binance and OKX wallets soon after releasing its snapshot.
FTX crisis could extend crypto winter to the end of 2023: Report
The 2022 bear market has been unlike anything we’ve ever seen in crypto, with the collective failures of Terra (LUNA), Celsius, Voyager, FTX and BlockFi still reverberating across the industry. According to new research from Coinbase, the FTX collapse and its resulting contagion effects could extend crypto winter for another year. “The unfortunate events surrounding FTX have undoubtedly damaged investor confidence in the digital asset class,” the report read. “Remediation will take time, and very likely this could extend crypto winter by several more months, perhaps through the end of 2023 in our view.”
Best Cointelegraph Features
Blockchain and the world’s growing plastic problem
“People are being asked to make changes to help mitigate climate change, but I can’t pull a CO2 molecule from the air and show it to you.”
Designing the metaverse: Location, location, location
“People imagine this as a second life… in the virtual world, people can have a better virtual house than others.”
Banks still show interest in digital assets and DeFi amid market chaos
Traditional financial institutions continue to demonstrate use cases for digital asset support, along with DeFi capabilities, despite current market conditions.
Subscribe
The most engaging reads in blockchain. Delivered once a week.
Editorial Staff
Cointelegraph Magazine writers and reporters contributed to this article.
Source link
#Binance #Blockchain #BNB #Coinbase #CoinbaseNews #Crypto #CryptoExchange #CryptoNews #Huobi #TraedndingCrypto
0 notes
bitcoincables · 3 months
Text
Cathie Wood Addresses Bitcoin ETF Approval Hoax, Calls for Democratized Access
Tumblr media
Industry expert Cathie Wood has addressed a false post from SEC Chairman Gary Gensler that caused confusion for investors and disrupted Bitcoin prices 😮. Wood, CEO of Ark Invest, shared her initial reaction to the post, stating that she found it strange to see the Bitcoin logo in an SEC tweet 🤔. The post claimed that the SEC had approved Bitcoin exchange-traded funds (ETFs) to be listed on US securities exchanges, but it turned out to be a hoax or hack 💔.
Wood's firm, Ark Investment Management, is among the companies waiting for the SEC's decision on their Bitcoin ETF applications 😯. Wood reiterated her belief that cryptocurrency is a "public good" and emphasized the importance of democratized access to innovation. She stressed that her goal is not to maximize profits but to provide access to financial opportunities for investors 👌.
This incident comes at a time when investors are eagerly anticipating the SEC's verdict on several Bitcoin ETF applications. Wood's firm, in partnership with 21Shares, was the first to seek the SEC's approval for a spot Bitcoin ETF. Following the false announcement, Bitcoin prices soared but quickly plummeted once the SEC clarified that the announcement was unauthorized and their account had been compromised 🚀📉.
Click here to read more on Fox Business. Bitcoin SEC Cryptocurrency ETF
0 notes
your-dietician · 1 year
Text
Why Nasdaq is ‘reasonable alternative’ to Cathie Wood’s ARK Innovation ETF in this stock-market environment, according to DataTrek
New Post has been published on https://medianwire.com/why-nasdaq-is-reasonable-alternative-to-cathie-woods-ark-innovation-etf-in-this-stock-market-environment-according-to-datatrek/
Why Nasdaq is ‘reasonable alternative’ to Cathie Wood’s ARK Innovation ETF in this stock-market environment, according to DataTrek
Tumblr media
With Cathie Wood’s flagship ARK Innovation ETF potentially facing more pain in the stock-market slump, the technology-laden Nasdaq Composite may provide investors more “insulation” in today’s “challenging macroeconomic environment,” according to DataTrek Research. 
“If you want exposure to disruptive tech, the Nasdaq is a reasonable alternative to ARKK in the current investment environment,” said Jessica Rabe, co-founder of DataTrek, in an emailed note Wednesday. “We suggest the Nasdaq Comp or 100 given that they both include some spicier tech names but own US large cap tech in size.”
The ARK Innovation ETF, which trades under the ticker ARKK, is an actively managed fund with a concentrated portfolio that includes “large weights in many speculative tech names,” such as Roku Inc. ROKU, UiPath Inc. PATH and Block Inc SQ, according to DataTrek. The fund ARKK has plunged 62.3% this year through Tuesday, the day it hit a 52-week, FactSet data show.
“ARKK will most likely trough at lower levels on a percentage basis and rebound more slowly than the Nasdaq in the early 2000s because it does not own as many large, seasoned companies,” said Rabe, referring to the period of the dot-com bubble bursting. 
A spokesperson for Wood didn’t immediately respond to a request for comment about the report.
The Nasdaq Composite is “a passive and much more diversified portfolio that held many high-quality and established tech stocks” in the early 2000s, such as Microsoft Corp. MSFT, Apple Inc. AAPL, Amazon.com Inc. AMZN, chip maker Intel Corp. INTC and mobile-phone chip supplier Qualcomm Inc. QCOM, according to DataTrek. 
This year, speculative tech stocks have remained “particularly out of favor” as the Federal Reserve hikes interest rates to combat soaring inflation, DataTrek noted. In Rabe’s view, whether ARK Innovation holdings Teladoc Health Inc. TDOC or Block “succeed over the next decade is a much more difficult call” than Microsoft or Apple in the early 2000s.
“Also, the Fed is currently raising rates more than it was cutting them at this point back in 2001 at each meeting,” she said. 
Read: Cathie Wood: Fed is ‘probably overdoing it’ in battle with inflation, warns of deflation signs
Meanwhile, the ARK Innovation ETF’s pandemic gains have been wiped out and it “continues to underperform the NASDAQ’s dot-com bubble meltdown during the early 2000s,” said Rabe. 
The ETF was down 77% on the 419th trading day since its peak in February 2021, the DataTrek note shows. “Over the same timeframe in 2000 – 2001,” the Nasdaq was down 64% from its March 2000 high, said Rabe. 
But over the Nasdaq’s 2000 peak to its 2002 bottom, the index plummeted 78%, according to the note. “If ARKK follows that experience, its low would be at $34,” Rabe wrote, compared with a closing value of $35.65 on Tuesday.
The mix of stocks in the Nasdaq Composite or Nasdaq-100 Index NDX “gives investors more insulation in the current challenging macroeconomic environment,” she said, “as U.S. Big Tech has deep competitive ‘moats’ and scalable global total addressable markets.”
U.S. stocks were trading mixed Wednesday afternoon as investors digested data showing wholesales prices were stronger than expected in September. The Dow Jones Industrial Average was up 0.2%, while the S&P 500 SPX slipped less than 0.1% and the Nasdaq Composite COMP rose less than 0.1%, according to FactSet data, at last check.
Read the full article here
0 notes
floraclinton1200 · 2 years
Video
youtube
Tuesday’s massive sell-off presented Cathie Wood with an opportunity to scoop up more of her favorite innovation stocks. The popular investor added stocks for five of her exchange-traded funds Tuesday when the S&P 500 suffered its worst day of 2022 with a 4.3% drop. Wood snapped up shares of eight companies for her flagship ARK Innovation ETF, including adding to two of her largest holdings Roku and Zoom Video. Her buying binge coincided with a market sell-off when a crucial inflation report for August came in higher than anticipated, dampening investor hopes for falling prices and a more dovish Federal Reserve. The Dow Jones Industrial Average saw its worst day since June 2020 as it dropped 1,200 points.
0 notes