💸ARK ETFs Face $2.2B Exodus: Investors Rethink Cathie Wood's Strategy🤔

Happy Wednesday, Bullseye Traders! 

Cathie Wood’s ARK funds are navigating choppy waters, but will they emerge as the next Titanic or the unsinkable Molly Brown? 💸 Just four months into 2024, the investment firm’s once-mighty exchange-traded funds (ETFs) have seen a $2.2B drift away — with its flagship ARK Innovation ETF ($ARKK) taking the brunt of the iceberg. The recent downturn surpasses last year’s leak, leaving total assets at a mere $11.1B — a far cry from the Titanic-sized $59B peak in 2021.

Back in 2020, ARK funds were the golden child, attracting a cool $20B in deposits — but since then, they've experienced a hemorrhage of $14.3B in investor funds, making it the greatest vanishing act in asset management history over the past decade. 📉

At the start of 2024, $ARKK shares took a nosedive by 19% — primarily due to Tesla ($TSLA), ARK’s poster child, which plummeted ~45%, leaving a Tesla-shaped hole in the portfolio alongside the conspicuous absence of Nvidia ($NVDA).

But can ARK brave the storm? The firm's fingers are crossed, especially hoping for a friendly wave from the Federal Reserve in the form of lowered interest rates. During its heyday, ARK’s funds rode high on the crest of the wave of demand for growth stocks — and now they're hoping to catch another wave with the most growth-y stocks possible via their publicly-traded ARK Venture Fund ($ARKVX). Cathie Wood remains bullish, standing tall in her belief in ARK’s core investment themes and her unwavering confidence in Tesla’s future. She's even tossed out a five-year price target of $2K for the electric car giant, despite its current dip. 🚀

SHAKERS AND MOVERS

General Motors, General Electric, & Danaher

GM (+4%): General Motors revved up profits, cruising past obstacles with their high-profit vehicle sales, proving they're still in the fast lane. (AP)

GE (+8%): General Electric soared to new heights, showing their aerospace business is flying high with increased revenue, proving they're not just engines, but jet-setters. (Bloomberg)

DHR (+7%): Danaher dazzled investors with a triple play, hitting earning beats across the board, proving they're not just in the game, but dominating it. (CNBC)

SHW (-2%): Sherwin-Williams hit a bit of a rough patch, painting a picture of lower earnings and declining sales, proving even the brightest colors can fade. (Barron’s)

NUE (-9%): Nucor took a hit, bending under the weight of lower-than-expected earnings, proving that even the toughest steel can buckle under pressure. (IBD)

STREET SCOOPS: The Buzz Around Town

Reuters: Fisker's countdown to bankruptcy protection: 30 days and counting, unless they find a cash oasis in the EV desert.

The Guardian: Electric cars rev up for a global sales record in 2024, proving that even in the slow lane, they're still speeding ahead.

Fortune: Trump's financial rollercoaster continues as Truth Social teeters, but hey, another cool billion's on the horizon.

WSJ: ARK Funds investors bail like it's a sinking ship, leaving Cathie Wood to ponder whether it's time to change course.

BI: Citi predicts gold's about to hit the jackpot with a 25% surge, as tensions rise in the Middle East and central banks loosen their purse strings.

Hey guys, we’ve been on a hot streak and our last swing pick generated ALMOST 8+% 🔥 

Did you get it?

If not, keep reading… 👇🏽

Over the past 150 trades, we boast an 81% success rate for our premium members! With the Bullseye Trades premium membership, we streamline stock selection, consistently offering fresh stock picks and insights to simplify the process for our members. As a premium subscriber, you gain instant access to the swing trades that we are actively taking allowing you to minimize the time spent navigating the complexities of the market and focus more on doing what you love to do.

Here are the last 5 swing trades we recently closed 🎯 

Our next alert is going out later today, don’t miss it 🤝 Click below to join 👇🏽

From yours truly 👋🏼