ARK ETF

In reply to Michael Berry’s short position on ARK Innovation ETF Cathie Wood earlier last night posted on her twitter account, claiming Burry is missing on the fundamental growth factors of the innovation space. Her tweets follow “To his credit, Michael Burry made a great call based on fundamentals and recognized the calamity brewing in the housing/mortgage market. I do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space” To his credit, Michael Burry made a great call based on fundamentals and recognized the calamity brewing in the housing/mortgage market. I do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space. — Cathie Wood (@CathieDWood) August 17, 2021 According to a regulatory filing as of Monday, Michael Burry CEO & Founder of Scion Asset Management LLC, a private investment firm based in the U.S held bearish put contracts of 235,500 shares which is valued at $31 million against Ark Innovation ETF. Regulatory filings also show he has puts against 1,075,500 Tesla shares as well which accounts for 10.44% of the fund’s holdings. Younger demographics draw the most attention to innovative space and are big-time supporters of the ARK ETFs and Cathie’s investment strategies. Cathie is popularly known as “Cathie BAE” and “Queen Cathie” on Reddit chat rooms and there are even pictures of Wood on t-shirts that say “In Cathie We Trust” Read the series of tweets by Cathie as the story developed and our earlier story: Sequel of “Big Short” on Cathie Wood’s ARK ETF “In our view, the seeds for the innovation explosion that @ARK Invest is dedicated to researching were planted during the 20 years ending with the tech and telecom bust. Having gestated for more than 20 years, these technologies should transform the world during the next 10 years.” In our view, the seeds for the innovation explosion that @ARKInvest is dedicated to researching were planted during the 20 years ending with the tech and telecom bust. Having gestated for more than 20 years, these technologies should transform the world during the next 10 years. — Cathie Wood (@CathieDWood) August 17, 2021 “If we are correct, GDP and revenue growth will diminish until the opportunities in nascent technologies begin to move macro needles. In this environment, innovation-based strategies should distinguish themselves.” If we are correct, GDP and revenue growth will diminish until the opportunities in nascent technologies begin to move macro needles. In this environment, innovation based strategies should distinguish themselves. — Cathie Wood (@CathieDWood) August 17, 2021 “The deflation in commodity prices is cyclical but is adding to the secular forces caused by technologically enabled disruptive innovation (“good deflation”) and creative destruction (“bad deflation”).” The deflation in commodity prices is cyclical but is adding to the secular forces caused by technologically enabled disruptive innovation (“good deflation”) and creative destruction (“bad deflation”). — Cathie Wood (@CathieDWood) August 17, 2021