Cathie Wood of ARK Invest said today that her firm is exploring a short portfolio, which she called “ARK on steroids.” πͺ πͺ
According to Wood, the portfolio shorts shares in major benchmarks with a focus on value names. Employees are currently assessing the experimental fund internally.
Cathie commented “We think the benchmarks are where the big risks are long term, because they are filling up with value traps β those companies that have done very well historically but are going to be disintermediated and disrupted by the massive amount of innovation thatβs taking place.”
ARK Invest’s Innovation ETF $ARKK is trading down 13.5% YTD… is becoming more aggressive really in ARK’s best interest?? π€ Place your bets. Here’s the daily chart:Β