Monday, August 2

ARK Innovation ETF

ARK, Ark ETF, Ark Funds, ARK Innovation ETF, ARK Invest, Cathie Wood, cathie wood etf, JPMorgan, Markets, MI Exclusive

Cathie Wood’s flagship ARK fund shows dot-com bubble traits and may be luring investors into a’bull trap,’ JPMorgan strategist says

Cathie Wood, CEO and chief investment officer of ARK Invest. ARK Invest Cathie Wood's ARK Innovation ETF is demonstrating bubble-like traits similar to those seen during the excessive speculation of internet-related companies in the late 1990s, and could be luring investors into a "bull trap," according to JPMorgan strategist Shawn Quigg.In a note dated July 15, Quigg wrote that a second-half pick-up in Treasury yields and a shift in the growth dynamic of the economy could trigger a bull-trap reversal of shares in the exchange-traded fund."A looming rise in yields could be a catalyst to accelerate ARKK shares lower, in addition to the continued outperformance of large staple-tech stocks over disruptive-tech stocks, and pressing ARKK into the capitulation phase," he wrote.JPMorgan...