Results for: Ark Invest

Ark Invest, led by tech investor Cathie Wood, has experienced a dramatic 80% decline in assets under management over the past three years, falling from a peak of $59 billion to just $11.1 billion. This downturn is largely attributed to high interest rates and disillusioned investors withdrawing a substantial $2.24 billion from Wood’s actively managed funds in the third week of April 2024 alone. Ark’s flagship fund, the ARK Innovation ETF (ARKK) has witnessed outflows exceeding $1.3 billion this year, surpassing the $578 million outflow seen in 2023.

Elon Musk, CEO of Tesla, has expressed support for ARK Invest’s analysis of the company’s Q1 expectations. ARK Invest has set a price target for Tesla at $2000 by 2027, despite the company’s recent decline in deliveries and production figures. Analysts remain cautious about Tesla’s Q1 earnings and question its status as a growth stock.

Bitcoin’s halving event has reduced its supply growth below that of gold. Ark Invest’s analysis suggests that historical halving events have been followed by significant price appreciation for Bitcoin. The analyst compares Bitcoin’s predictable monetary policy to the adjustable supply growth of sovereign currencies, highlighting its scarcity. Despite recent market volatility, Bitcoin’s long-term outlook remains bullish, with Ark Invest predicting a potential rise to $150,000 by year-end.

On Monday, Cathie Wood’s Ark Invest made significant moves involving Tesla and Zoom Video Communications.

Ark bought 122,752 shares of Tesla valued at $17.44 million, while selling 334,290 shares of Zoom worth approximately $19.9 million. These trades come ahead of Tesla’s first-quarter earnings announcement and amid mixed analyst ratings for Zoom.

Ark’s Tesla purchase signals confidence in the EV maker despite recent stock declines, while the Zoom sale may reflect shifting market sentiment.