Cathie Wood buys the dip in Tesla

We love the liquidity that this provides us, we think it’s very healthy, a very healthy shakeout.  All I know is we are keeping our eyes on the prize and the prize just got a little bit more interesting.  Corrections are good, they keep us all humble.  The strongest bull markets I’ve been in are built on walls of worry.

~ Cathie Wood, "Cathie Wood Buys the 13% Dip in Tesla as ARKK Slips Again," Bloomberg, February 23, 2021

(Wood’s main fund, the $27 billion ARK Innovation ETF (ARKK), notched its worst back-to-back rout since September, falling as much as 11.8% and ending the day down 3.3%. A record $4.96 billion worth of shares changed hands in total, more than double the previous high just a day prior.  ARKK closed down 11.2% from its all-time high set February 12)

Nate Geraci on the speculative mania in "Reddit stocks"

The speculative mania in ‘Reddit stocks’ has simply overshadowed Ark Invest and pretty much everything else in the markets.  It’s a fascinating dichotomy right now with investors pumping money into companies of the past versus companies of the future. 

~ Nate Geraci, president of the ETF Store, "ARK Mania Finally Fading After GameStop Fever Sweeps Wall Street," WealthManagement.com, January 29, 2021