Cathie Wood-Led ARKK Signals The Bottom Is In Ahead Of Tesla Earnings: This Fund Offers 2X Leverage
Portfolio Pulse from Melanie Schaffer
ARK Innovation ETF (ARKK) was trading higher on Monday, following a 5.34% drop last week due to the fund offloading $20.67 million worth of Tesla shares. This comes ahead of Tesla's Q3 earnings report, expected on Wednesday. Analysts predict a decrease in earnings per share but a 10% YoY increase in revenue. ARKK may be forming a triple bottom pattern, indicating a potential reversal to the upside. Traders seeking leveraged long exposure to ARKK can consider the AXS 2x Innovation ETF (TARK), which aims to return 200% of ARKK's daily performance.
October 16, 2023 | 4:00 pm
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POSITIVE IMPACT
ARKK is showing signs of a potential reversal to the upside, which could be influenced by Tesla's upcoming earnings report.
ARKK's recent trading pattern suggests a potential reversal to the upside. This could be influenced by Tesla's upcoming earnings report, as ARKK recently offloaded a significant amount of Tesla shares.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
TARK offers leveraged exposure to ARKK, potentially benefiting from ARKK's potential reversal to the upside.
TARK aims to return 200% of ARKK's daily performance, meaning it could potentially benefit from ARKK's potential reversal to the upside.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70