Cathie Wood: "This Is What The Market Is Missing Right Now"
Cathie Wood, CEO and CIO of Ark Invest, spoke at the 2022 UP.Summit in Bentonville, Arkansas. Ark Invest is down 50% year-to-date and many in the media are questioning Cathie’s picks. Of course, Cathie whole-heartedly believes in technology disrupting society and she is putting her money where her mouth is, betting aggressively on it. Just recently, in her crypto investments, Cathie bolstered her holdings of Coinbase (COIN) across her Ark Invest funds, which is roughly the 20th purchase of COIN stock since the end of March. Many are questioning her move on Coinbase, as the leading crypto exchange in the US has shown signs of uncertainty in recent weeks, as it froze hiring for both new and backfill roles for the “foreseeable future” and rescinded accepted offers “in response to the current market conditions and ongoing business prioritization efforts.” Their rescinding of new hires caused quite a backlash and PR nightmare as many soon-to-be new hires took to the media to share their stories on how they left current positions and turned down other opportunities to join Coinbase. This is the second PR nightmare for Coinbase, as it was just last month that Coinbase backpedaled on their security for retail holders amidst the Terra Luna collapse after investors exposed their weakness on Twitter. Despite this, Cathie has full confidence in Coinbase and her fund. In the interview, Cathie suggested that many people who are questioning her decision making is missing out or not fully understanding a key component to iinvesting, which is Wrights Law.
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THIS INTERVIEW WAS POSTED ON JUNE 8, 2022
Listen to the full unedited interview here ⬇ [Credits] 🙏
Cathie Wood on ARKK's Performance and Inflation
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