ETF group Ark Investments, led by Cathie Wood, is making its foray into the European market. This move comes as the once high-flying US business encounters challenges in its home market.
Despite rising yields and uncertainties surrounding the latest Federal Reserve meeting, the Dow Jones Industrial Average (AMEX:DJIA) experienced a significant surge. Taking advantage of the market downturn, Cathie Wood's Ark Investments snapped up shares of some plunging stocks, including Tesla.
Cathie Wood's decision to expand into Europe through her famous ETF investment fund is met with caution. She acknowledges that conditions may not be as welcoming as they have been in the US market.
UK property funds and listed private equity trusts are losing favor among investors, signaling a shift in sentiment towards these asset classes. Additionally, renowned artist Rolf Sachs is collaborating with Sotheby's, adding an artistic touch to the auction house.
Nvidia Corp. (NASDAQ: NVDA) stands as a prime example of the growing trend of artificial intelligence (AI) in the tech sphere. The company's stock has been performing exceptionally well, riding the wave of the AI revolution.
Interestingly, the most popular question on Ark Invest's website does not pertain to investing in the US. This finding, revealed by Cathie Wood herself, suggests a growing interest in international investment opportunities.
Recent filings show that Ark Invest, through its funds ARK Next Generation Internet ETF and ARK Innovation ETF, offloaded 42,613 shares of US-based crypto exchange Coinbase. This move indicates a potential shift in Ark's investment strategy.
Ark Invest holds significant stakes in Tesla, Coinbase, and other growth plays. However, even winners projected for 2023 are currently far from their all-time highs, highlighting the volatility in these stocks.
Ark Invest's recent actions may be influenced by the latest rally in Bitcoin. The cryptocurrency's value recently surpassed $35,000, prompting increased attention from institutional investors.
