Is ARK Innovation ETF (ARKK) a Good Buy Right Now?

[ETF Daily News]( July 27th, 2023 SPONSORED AD [See The #1 Stock On Today's Top Stocks List]( Our Top 50 Stocks List was created by our revolutionary trend-spotting algorithm and today's list was just updated! The #1 stock on the list has a +100 Chart Analysis Score and is trending up on its short, intermediate, and long term time frames. Remember, trends change fast, so now is the time to take action and position yourself ahead of the crowd. [Discover the #1 stock and see the full list for free.]( [Is ARK Innovation ETF (ARKK) a Good Buy Right Now?]( ARK Innovation ETF ([ARKK]( – [Get Rating]( is an actively managed Exchange Traded Fund (ETF) that seeks long-term growth of capital by investing in domestic and foreign equity securities of companies that are relevant to the [fund’s investment theme of disruptive innovation](. The ETF is managed by the team at Ark Investment Management LLC, an advisory firm led by renowned investor Catherine Wood. The ARK Innovation ETF exploded in 2020 by capturing significant inflows, increasing from under $2 billion in 2019 to more than $15 billion at its high at the end of 2020. A widespread embrace of technology that enabled work from anywhere and a low-interest rates environment resulted in ARKK’s outperformance during the pandemic. But the fund gave up some of its gains with an approximately 24% loss in 2021. The weak performance continued in 2022, with [the ARKK ETF plunging around 67%](. Cathie Wood’s ARKK got slammed by high inflation and rising interest rates along with other growth funds. However, despite last year’s lackluster performance, the ETF still attracted about $1.30 billion in inflows. Following significant losses in 2021 and 2022, Wood’s flagship ARKK has rebounded in 2023, gaining 58.5% year-to-date, driven by broad tech rebound and returning interest in top holdings, including Elon Musk-led company Tesla Inc. ([TSLA](. After buying up TSLA shares on the cheap throughout this year, Cathie Wood’s ARK Invest [continues to unload Tesla stock]( after the EV giant’s significant rally this year. Furthermore, Wood’s Ark Invest expected TSLA to [hit $3,000 by 2025]( an increase from its current price of $655. At that price, the automotive company would be worth about $3 trillion, based on the number of shares outstanding. Ark Invest also expects a 50% chance of TSLA achieving fully autonomous driving within five years, which could allow the EV maker to scale its planned robotaxi service quickly, based on a note on Ark’s website. This month, Cathie Wood revealed that her flagship innovation fund, ARKK [reduced its China exposure to zero]( as the developing market faces an economic slowdown. “As we always do during bear markets, we concentrated our strategies towards our highest conviction names and the Chinese names, in particular, came out one by one as we were concentrating so that now, at least in the… Continue reading at [STOCKNEWS.com]( NOTE: If URLs do not appear as live links in your e-mail program, please cut and paste the full URL into the location or address field of your browser. [Privacy Policy]( | [Terms & Conditions]( This email contains a paid advertisement.This is not a solicitation for the purchase or sale of securities. Readers are encouraged to conduct their own research and due diligence, and/or obtain professional advice, prior to making any investment decision. Advertisements and sponsorships are provided as a service to Stock News users. Stock News is not responsible for their content, services or products. The statements and opinions contained in this advertisement are not those of Stock News, and Stock News disclaims any liability for or arising from such statements and opinions. You are hereby advised that Stock News is receiving a fee as compensation for the distribution of this advertisement. [Click here to unsubscribe]( Copyright © 2023 ETF Daily News, part of StockNews.com - POWR Stock Rating, Market Outlook & Investment Insights Magnifi Communities, 1 Penn Plaza, Suite 3910, New York, NY 10019