The stock market has become a battle between trading tomorrow and the current offer over the past few months, and over the past week it has become messy.
The stocks valued on promises for a transformed future have been sold hard in favor of those ready to thrive in today’s current economic revival. Perhaps the opponents could coexist for a while more peacefully after last week’s tortuous fluctuations, resulting in the sale of crescendo and a powerful upward reversal?
The “disruptive technology” stocks and start-ups before revenue and speculative SPACs with a high dust-to-dust ratio have been rinsing thoroughly since mid-February.
The determination of the festival-to-famine ARK Invest ETFs was appropriate, irresistible and probably now exaggerated. The flagship ARK Innovation Fund (ARKK) on the lowest Friday morning lost more than 30% in about three weeks. The fund was a popular shortage that stocks could be difficult to borrow, and Wall Street desks were creating synthetic versions of the ETF against which hedge funds could bet.
Was it a short-term capitulation in this sub-sector prior to a 10% bounce in ARKK from late morning to Friday’s close?