ARKK... an upside leader on highly speculative stocks. A downside leader with still, highly speculative (to date, -71% off of high). And as the current "overall bear market" is just beginning, ARKK likely to drop much further. MUCH of the market will end up looking like this or even worse... when the bear has run its course! A classic example of why all should "trade with stops". FWIW...
And what was the financial channel CNBC saying about ARKK back in Feb 2021? Were they very bullish on it or bearish?
From Hero to Zero. This was her on bloomberg in December 2020, about two months before ARKK topped. This was the first time i heard of her. "Unstoppable exponential growth (in the ARKK price) expected over the next five years" "No one can take my track record away from me!" Well i think she will find this Bear market can reset her ARKK growth track record back to zero.
She does not believe in stops and keep sain that now is the time to get into ARKK since it offers tremendous value.
I welcome bear markets, they clear the air and offer great value hunting. I just don't think the central bank will allow this with the mid terms 6 months out. After the midterms sure.
Bear markets are healthy (so is shorting). They are both necessary to prevent over-evaluation and worse problems down the road. But seems the army of (long) INVESTORS will moan and cry if things don't always go UP. They feel it's just 'criminal' to hope/expect things to revert to the mean if that means anything downside. So that said, I'm happy to see the recent corrections, and they are well over-due. This is partly due to the Fed fucking it all up. On the other hand... ARKK actually was ok and consistently was beating the market... but then when cheap money got helicoptered in and the day-trading fad took off like wildfire, suddenly ARKK went ballistic to the stratosphere. Not to overly state the obvious, but this never ends well. I have been saying this for two years now, but none of them would listen. According to many of the millennial army of apes, Buffett was an idiot, and this is a new paradigm and stonks can only go up (regardless of performance). Buffett's old and wrong. One thing you have to hand to Elon, when his shares of Tesla went OP, he actually admitted they were over-valued. LOL! Credit to him where credit is due. ps - Fun fact of the Magellan fund. Despite record breaking returns over many years, the MAJORITY of investors made only a small fraction of the returns. The reason being most only wanted in when it would reach the highs, then would sell out when it would hit bottoms. The same shit was predicted to happen with ARKK. But in this case, ARKK's results really took the ape-army to the cleaners.
Ark Invest CEO Wood says Bill Hwang provided seed capital for first four ETFs https://www.reuters.com/article/us-ark-invest-cathie-wood-bill-hwang-idUSKBN2CO21I PS: Probably nothing