By Zoe
ARK Investment has recently become a huge player in the ETF industry due to its wildly optimistic price target for Tesla. Its founder Catherine Wood is even called 'female Buffett'.
However, her investment preference is different from Buffett's. Wood advocates investment in transformational technologies, which she describes as "disruptive innovation", unlike Buffet, who rarely touches tech industries.
ARK currently has 6 actively managed innovation ETFs:
$ARK Autonomous Technology & Robotics ETF(ARKQ.US)$
$ARK Next Generation Internet ETF(ARKW.US)$
$ARK Genomic Revolution ETF(ARKG.US)$
$ARK Fintech Innovation ETF(ARKF.US)$
$ARK Space Exploration & Innovation ETF(ARKX.US)$
The performance of these funds is amazing. ARKK, the most well-known product, has an average annualized return of nearly 40% over the past five years. Moreover, all five funds have risen more than 80% in the past year. All of them have outperformed the S&P 500 ETF (SPY) and the NASDAQ 100 Index ETF (QQQ).
Among ARK's 6 actively managed innovation ETFs, only ARKF holds $Apple Inc(AAPL.US)$. In the past six trading days, ARKF sold 63.68% of its Apple holdings, around 399,600 shares.
The top three stocks on the list of lastest trades were:
$Coinbase Global, Inc.(COIN.US)$ Coinbase shares are down over 30% from its intraday peak of $429.54 on its debut on April 14. Part of Coinbase's recent slump has been blamed on the threat of increased competition from the likes of traditional banks and other crypto exchanges offering similar services.
PayPal co-founder Peter Thiel has planned to introduce a new cryptocurrency exchange by investing Block. one. Block. one will launch the exchange, called Bullish, via a newly formed subsidiary named Bullish Global, which could threaten the dominance of Coinbase.
$Baidu Inc(BIDU.US)$ launched its fully autonomous robotaxi services, called Apollo Go Robotaxi, in Shougang Park, Beijing on May 2. The service will allow users of the Apollo Go App to book a robotaxi through a system of unmanned self-service processes.
Baidu will report its Q12021 financial results on May 18, 2021.
$Workhorse Group, Inc.(WKHS.US)$ The electric-truck maker delivered only 6 trucks in the quarter to reach revenue of $0.52 million, missing the consensus estimate by $1.81 million. The management also lowered full-year production guidance from 1,800 vehicles to 1,000 vehicles, as the company is still constrained by supply chain issues.
Coming into this year, investor expectations were running high that Workhorse would win at least part of a massive $6 billion U.S. Postal Service contract to modernize its fleet of delivery vehicles. But in late February that deal went to rival Oshkosh instead, causing the markets to have to reset expectations for the company's growth.
Please do not blindly follow ARK's trades. This is to provide you with a list of quality companies worth looking at. It is always smart to do your own due diligence before investing!