Cathie Wood-Led ARKK Falls Under Key Bellwether, Reaches Oversold Territory: This ETF Offers A 200% Return On A Bounce
Portfolio Pulse from Melanie Schaffer
ARKK Innovation ETF (NYSE:ARKK) has fallen 15% between Sept. 12 and Tuesday, losing support at the 200-day simple moving average (SMA) on Sept. 21, which could indicate a possible bear cycle. The ETF sold 171,617 shares of Tesla, Inc (NASDAQ:TSLA) between Sept. 19 and Sept. 21. However, a temporary bounce is expected as the stock has entered oversold territory. Investors looking for leveraged long exposure to ARKK can consider the AXS 2x Innovation ETF (NASDAQ:TARK), which aims to return 200% of the daily performance of ARKK.
September 27, 2023 | 3:19 pm
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POSITIVE IMPACT
TARK offers leveraged long exposure to ARKK and aims to return 200% of the daily performance of ARKK.
TARK offers a leveraged option for investors looking to capitalize on ARKK's performance. This could attract more investors to TARK, potentially driving its price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ARKK has fallen 15% and entered oversold territory, indicating a possible bear cycle. However, a temporary bounce is expected.
The ETF has fallen significantly and entered oversold territory, which usually indicates a bear cycle. However, the oversold status also suggests a potential bounce back in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ARKK sold 171,617 shares of Tesla between Sept. 19 and Sept. 21.
The sale of a significant number of Tesla shares by ARKK could indicate a lack of confidence in the stock, potentially impacting its price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50