Another ARK Rally, Another Bear Rally?
Bargain hunting investors looking for steep discounts amid the stock market's turmoil are flocking back to Cathie Wood's ARK Innovation ETF, a long-time favorite. Since bottoming out on May 11, shares of the fund, which is mostly comprised of growth-oriented technology businesses, have risen 17%.
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Cryptos And New "MEME" Stocks?
Recent months have been interesting, even by Wall Street standards. Back in February, this took the form of extreme speculation in heavily shorted stocks and unlimited optimism regarding the fate of many high-growth stocks.
Bubbles, What Bubbles?
We remain cautious on current valuations and are not in a hurry to buy over-valued growth stocks, we prefer to let some time pass for inflationary pressure to cool down.
Bitcoin Crashes Down And Growth Roars Back
Bitcoin tumbled over 10% on Monday, its biggest one-day drop in over a month. The selloff was sparked by the People's Bank of China (PBOC) urging the largest banks and payment companies in China to crack down harder on cryptocurrency trading.
Sovereign Pivot
The conventional framing of global economic power tends to focus on trade balances and manufacturing output. This perspective misses a more consequential asymmetry.