Cathie Wood's Flagship Fund Has Traded Lower Every Day In August: What's Going On?
Portfolio Pulse from Erica Kollmann
Cathie Wood's ARK Innovation ETF (ARKK) has traded lower every day in August, down more than 11% month-to-date. The fund's top holdings, including Tesla (TSLA), Roku (ROKU), Coinbase Global (COIN), Zoom Video Communications (ZM), and Block (SQ), have all seen significant drops in their stock prices. ARKK has sold more than 573,000 shares of ROKU and over 103,000 shares of TSLA in August.
August 14, 2023 | 4:32 pm
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NEGATIVE IMPACT
ARKK has traded lower every day in August, down more than 11% month-to-date. The fund's top holdings have also seen significant drops in their stock prices.
The consistent downward trend of ARKK and its top holdings indicates a negative short-term impact on the fund. The selling of significant shares of ROKU and TSLA also suggests a lack of confidence in these assets.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Coinbase Global's stock price is down more than 17% in August.
The drop in Coinbase Global's stock price suggests a negative short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Roku's stock price is down more than 16% in August. ARKK has sold more than 573,000 shares of ROKU during the month.
The drop in Roku's stock price and the selling of its shares by ARKK suggest a negative short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Block's stock price is down more than 25% in August.
The drop in Block's stock price suggests a negative short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Tesla's stock price is down more than 11% in August. ARKK has sold more than 103,000 shares of TSLA during the month.
The drop in Tesla's stock price and the selling of its shares by ARKK suggest a negative short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Zoom Video Communications' stock price is down 8% in August.
The drop in Zoom Video Communications' stock price suggests a negative short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60