FAST FIVE: With NASDAQ Now Red For The Year, All Eyes Are On ARKK
Meanwhile, there has been nary a word of panic from Wood, who seems to be sticking by her time-tested (read: 18 months) method of buying whatever tech garbage sells off on any given day.
Short bets against ARKK continue to rise – a trend we first pointed out that had started weeks ago. We noted several weeks ago that short interest in ARK funds had “exploded” after ARK's banner 2020. Short interest as a percentage of shares outstanding for the firm's flagship $21 billion ARK Innovation ETF spiked to an all time high of 1.9% from just 0.3% two months ago, according to data from IHS Markit Ltd.
Zoom popped 10% to start the week on Monday, but then fell 9% on Tuesday before falling again, 2.4% on Wednesday. Wood was also featured on a Benzinga podcast on Wednesday.
Tesla makes up 9.3% of her Next Generation Internet ETF and 10% of her flagship ARKK ETF.
It's also 10.2% of her Autonomous Technology and Robotics ETF.