Cathie Wood Sounds Alarm On US Economy, Says Government Data Doesn't Capture 'How Weak' It Actually Is
Portfolio Pulse from Bibhu Pattnaik
Ark Investment Management CEO Cathie Wood has expressed concerns about the US economy, stating that government data does not accurately reflect its weakness. She cited the example of United Parcel Service, Inc. (UPS) whose delivery volume growth is worse today than in 2007-2009, and 3M Co (MMM), which saw a 3% decline in global organic sales year-over-year. Wood also mentioned her recent financial moves, including the sale of substantial Tesla (TSLA) and NVIDIA Corp (NVDA) shares.

October 28, 2023 | 7:49 pm
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NEGATIVE IMPACT
3M Co saw a 3% decline in global organic sales year-over-year.
Cathie Wood's comments about 3M's decline in global organic sales suggest a potential negative impact on the company's revenues and stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Cathie Wood sold substantial shares of NVIDIA Corp.
Cathie Wood's sale of substantial NVIDIA shares could potentially impact the company's stock price negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Cathie Wood sold substantial shares of Tesla.
Cathie Wood's sale of substantial Tesla shares could potentially impact the company's stock price negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
UPS's delivery volume growth is worse today than in 2007-2009, indicating weak revenues.
Cathie Wood's comments about UPS's weak delivery volume growth suggest a potential negative impact on the company's revenues and stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80