Cathie Wood's China Breakup: Why Ark's Flagship ETF Exited From Alibaba And Other Stocks
Portfolio Pulse from Shanthi Rexaline
Ark Investment Management's flagship ETF, the Ark Innovation ETF (ARKK), has exited Chinese stocks including Alibaba (BABA) amid a crackdown on big tech companies in China. The fund has shifted its focus towards diversification, considering new IPOs and reevaluating previously dropped names. Cathie Wood, the fund manager, expressed disappointment in China’s economic growth and predicted worsening conditions as more companies diversify their supply chains.
July 24, 2023 | 8:12 am
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POSITIVE IMPACT
MercadoLibre is one of the stocks that Ark Innovation ETF is considering as it shifts its focus towards diversification. This could potentially impact the stock's performance in the short term.
The consideration of MercadoLibre by Ark Innovation ETF as it shifts its focus towards diversification could potentially impact the stock's performance in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Innovation ETF has exited Chinese stocks, including Alibaba, due to regulatory crackdowns. This could potentially impact the fund's performance in the short term.
The exit from Chinese stocks, including Alibaba, due to regulatory crackdowns could potentially impact the performance of Ark Innovation ETF in the short term. The fund's shift towards diversification and reevaluation of previously dropped names could also influence its performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Alibaba is one of the Chinese stocks that Ark Innovation ETF has exited from. This could potentially impact the stock's performance in the short term.
The exit of Ark Innovation ETF from Alibaba could potentially impact the stock's performance in the short term. The regulatory crackdowns in China could also influence the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tencent is one of the Chinese stocks that Ark Innovation ETF has exited from. This could potentially impact the stock's performance in the short term.
The exit of Ark Innovation ETF from Tencent could potentially impact the stock's performance in the short term. The regulatory crackdowns in China could also influence the stock's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80