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<ul class="summary-list"><li>Two of <keyword id="10473418" type="UNKNOWN" weightage="60" keywordseo="cathie-wood">Cathie Wood</keyword>'s ARK ETFs bought a combined 3,071,654 shares of <keyword id="2263561" type="PERSON" weightage="60" keywordseo="Skillz">Skillz</keyword> on Tuesday.</li><li>The shares were worth some $52 million before a significant drop hit the stock today.</li><li>Skillz reported worse than expected losses in its quarterly results, but there were a number of bright spots as well.</li></ul>Two of Cathie Wood's ARK ETFs bought a combined 3,071,654 shares of the online mobile multiplayer video game competition platform Skillz on Tuesday.Specifically, the <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040">ARK Innovation ETF</a> bought 2,717,021 shares while the <a href="https://markets.businessinsider.com/etfs/ark-next-generation-internet-etf-us00214q4010">ARK Next Generation Internet ETF</a> bought 354,633 shares.Skillz is now the <a href="https://ark-funds.com/arkk">43rd largest holding</a> of the <keyword id="10868787" type="UNKNOWN" weightage="60" keywordseo="ark-innovation-etf">ARK Innovation ETF</keyword> (8,514,573 shares) and the <a href="https://ark-funds.com/arkw">20th largest holding</a> of the <keyword id="10869736" type="UNKNOWN" weightage="60" keywordseo="ark-next-generation-internet-etf">ARK Next Generation Internet ETF</keyword> (7,050,447 shares).Combined, the shares were worth some $52 million based on Tuesday's closing price of $16.94 per share.After Wood's buys, Skillz released its quarterly <a href="https://www.businesswire.com/news/home/20210504006307/en/Skillz-Reports-Record-Q1-Revenue-and-Raises-2021-Guidance#:~:text=Revenue%20grew%20to%20%2483.7%20million,95%25%20over%20the%20prior%20year.&amp;text=Gross%20Marketplace%20Volume1%20(GMV,85%25%20over%20the%20prior%20year.ear.">earnings results</a> that included larger than expected losses and the stock fell as much as 10.83% on Wednesday.Skillz more than doubled its quarterly losses versus the same period a year ago in the first quarter, losing $0.15 per share compared to analysts' estimates for a $0.10 loss. Still, there were plenty of bright spots in the quarterly report. First-quarter revenue jumped 92% year-over-year to $84 million and paid active users surged 81%.Skillz also raised its full-year revenue guidance to $375 million, which equates to 63% year-over-year growth.The company landed some analyst support from Wedbush analyst Michael Pachter post-earnings as well.Pachter maintained his "buy" rating and $34 price target on the stock, citing the impressive growth of the company's gaming platform.Skillz also recently added ex-Airbnb Executive Ian Lee as its chief financial officer. Lee was the head of investor relations during Airbnb's December, 2020 IPO. He holds an MBA in Finance from the Wharton School at the University of Pennsylvania.Skillz launched a <a href="https://twitter.com/skillz/status/1387394630652555265?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet">game developer challenge</a> with the NFL last Wednesday as well, adding to the long-term bull case for the stock.Shares of Skillz traded down 9.29% as of 3:38 p.m. ET on Wednesday.<div type="image" title="Skillz stock chart" height="663" width="830" msid="82418353" hostid="261"></div>

Cathie Wood's Ark ETFs bought over 3 million shares of Skillz the day it reported earnings. Now the stock is down 10% after shaky results.

<ul class="summary-list"><li><keyword id="11146822" type="UNKNOWN" weightage="60" keywordseo="skillz-stock">Skillz stock</keyword> jumped as much as 5.84% on Friday after one of <keyword id="10473418" type="UNKNOWN" weightage="60" keywordseo="cathie-wood">Cathie Wood</keyword>'s ETFs announced it bulked up its investment.</li><li>The <keyword id="10868787" type="UNKNOWN" weightage="60" keywordseo="ark-innovation-etf">ARK Innovation ETF</keyword> added over 1.2 million shares of the gaming platform on Thursday.</li><li><keyword id="2263561" type="PERSON" weightage="60" keywordseo="Skillz">Skillz</keyword> revenue increased 92% YoY in 2020, but net losses hit a record $122 million as well.</li></ul><a href="https://markets.businessinsider.com/stocks/sklz-stock">Skillz</a> saw its stock jump as much as 5.84% on Friday before paring gains after Cathie Wood's ARK Innovation ETF added another 1,222,207 shares of the <keyword id="906162" type="PERSON" weightage="60" keywordseo="mobile-gaming">mobile gaming</keyword> platform to its holdings on Thursday.As of Thursday's closing price, ARK's roughly 1.2 million shares were worth $20.25 million.The ARK Innovation ETF held 4,014,903 shares of Skillz prior to Thursday's buys, making it the ETF's 56th largest holding.Skillz was founded in 2012 by Andrew Paradise and Casey Chafkin as a platform where ordinary gamers can compete to win real prize money.The company boasts 2.4 million monthly active users and 9,000 registered game developers, according to its <a href="https://investors.skillz.com/financials/sec-filings/sec-filings-details/default.aspx?FilingId=14797528">latest SEC filings</a>. Skillz also dishes out more than $100 million in prizes to users each month.The San-Francisco-based firm saw its revenue jump 92% year-over-year in 2020 to just over $230 million, although net losses increased to a record $122 million for the year as well.Analysts are mostly bullish on Skillz's prospects. The company holds four "buy" ratings, two "hold" ratings, and zero "sell" ratings from analysts.Most recently, Jefferies analyst Andrew Uerkwitz initiated coverage on Skillz with a "hold" rating and price target of $17. Analysts' average price target for the stock is $27.83 per share.Skillz went public via a merger with the special purpose acquisition company (SPAC) Flying Eagle Acquisition Corp. back in December of 2020 at a valuation of $3.5 billion. The company is now worth over $6.5 billion.

Skillz jumps after Cathie Wood's ARK Innovation ETF added another 1.2 million shares of the mobile gaming platform on Thursday

<ul><li><keyword id="11898779" type="UNKNOWN" weightage="60" keywordseo="ark-invest" source="Orion">Ark Invest</keyword>'s flagship ETF has suffered a year-to-date decline of 24% as investors shy away from unprofitable tech companies.</li><li>Despite the decline, <keyword id="11893881" type="UNKNOWN" weightage="60" keywordseo="cathie-wood" source="Orion">Cathie Wood</keyword> has reiterated her view that innovation stocks are in value territory.</li><li>These are the 10 most beaten-down stocks in Ark Invest's flagship Disruptive Innovation ETF.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Investors in <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040">Ark Invest's flagship portfolio</a> have endured a tough 2021, with Cathie Wood's ETF down 24% year to date while the S&amp;P 500 is up about 23%.The reversal in the once-hot ETF has occurred amid a rotation out of high-growth tech stocks that are often unprofitable, in favor of more stable companies that have a proven history of delivering profits despite economic uncertainty.Now, what was once incredibly strong positive momentum for the tech trade has reversed to consistent negative momentum, leading to a nosedive of more than 80% from record highs. The sell-off has been compounded by the Federal Reserve's recent decision to speed up the tapering of its monthly bond purchases, as well as its guidance for multiple interest rate hikes in 2022.But Wood <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-forecasts-big-returns-innovation-stocks-value-ark-invest-2021-12">is staying bullish on her investment strategy</a> of buying innovative companies with little to no profits. In a blog post on Friday, Wood said the stocks ARK Invest owns are now in "deep value territory" and predicted monster annualized returns of 40% over the next five years.These are the 10 most beaten-down stocks in Ark Invest's flagship Disruptive Innovation ETF as of December 20. All data was sourced from <a href="https://koyfin.com">Koyfin</a>. 10. 2U, IncTicker: <a href="https://markets.businessinsider.com/stocks/twou-stock">TWOU</a> % Below 52-Week High: -66% Market Capitalization: $1.6 billion<div type="image" title="2U stock chart" height="492" width="628" msid="88399913" hostid="261"></div>9. Signify HealthTicker: <a href="https://markets.businessinsider.com/stocks/sgfy-stock">SGFY</a> % Below 52-Week High: -66% Market Capitalization: $3.2 billion<div type="image" title="SGFY chart" height="499" width="629" msid="88399916" hostid="261"></div>8. Teladoc HealthTicker: <a href="https://markets.businessinsider.com/stocks/tdoc-stock">TDOC</a> % Below 52-Week High: -69% Market Capitalization: $15.3 billion<div type="image" title="Teladoc chart" height="495" width="629" msid="88399918" hostid="261"></div>7. Editas MedicineTicker: <a href="https://markets.businessinsider.com/stocks/edit-stock">EDIT</a> % Below 52-Week High: -70% Market Capitalization: $2.0 billion<div type="image" title="EDIT chart" height="496" width="624" msid="88399920" hostid="261"></div>6. CompugenTicker: <a href="https://markets.businessinsider.com/stocks/cgen-stock">CGEN</a> % Below 52-Week High: -71% Market Capitalization: $380.0 million<div type="image" title="CGEN chart" height="498" width="627" msid="88399923" hostid="261"></div>5. MaterialiseTicker: <a href="https://markets.businessinsider.com/stocks/mtls-stock">MTLS</a> % Below 52-Week High: -72% Market Capitalization: $1.4 billion<div type="image" title="MTLS chart" height="509" width="629" msid="88399924" hostid="261"></div>4. InvitaeTicker: <a href="https://markets.businessinsider.com/stocks/nvta-stock">NVTA</a> % Below 52-Week High: $3.8 billion Market Capitalization: -72%<div type="image" title="NVTA chart" height="507" width="623" msid="88399925" hostid="261"></div>3. Robinhood <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">Markets</keyword>Ticker: <a href="https://markets.businessinsider.com/stocks/hood-stock">HOOD</a> % Below 52-Week High: -79% Market Capitalization: $15.2 billion<div type="image" title="Robinhood chart" height="499" width="627" msid="88399927" hostid="261"></div>2. Skillz Inc.Ticker: <a href="https://markets.businessinsider.com/stocks/sklz-stock">SKLZ</a> % Below 52-Week High: -83% Market Capitalization: $3.2 billion<div type="image" title="Skillz chart" height="496" width="628" msid="88399928" hostid="261"></div>1. Berkeley LightsTicker: <a href="https://markets.businessinsider.com/stocks/bli-stock">BLI</a> % Below 52-Week High: -83% Market Capitalization: $1.3 billion<div type="image" title="BLI chart" height="496" width="629" msid="88399930" hostid="261"></div>

These are the 10 most beaten-down stocks in Ark Invest's flagship fund as momentum fades for innovative tech bets

<ul><li><keyword id="11910046" type="UNKNOWN" weightage="60" keywordseo="reddit" source="Orion">Reddit</keyword>'s <keyword id="11910044" type="UNKNOWN" weightage="60" keywordseo="wall-street-bets" source="Orion">Wall Street Bets</keyword> forum entered the mainstream during the January GameStop craze. </li><li>From GameStop to AMC Entertainment, retail investors congregating on the subreddit are a driving force in the <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword>.</li><li>These are the 10 most popular stocks Wall Street Bets is talking about right now.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesturce=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>It's paid to follow what stocks Reddit's Wall Street Bets crowd are talking about this year, as several have gone through epic rallies and seen heightened volatility. From <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> in January to <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC Entertainment</a> in June, the near 11 million-member forum has driven the conversation in so-called meme stocks that have exploded higher amid overwhelming demand from retail investors. Strong demand for stocks with shaky fundamentals has <a href="https://markets.businessinsider.com/news/stocks/gamestop-hedge-fund-losses-white-square-capital-closes-down-2021-6">led to several hedge fund blowups</a> that were caught on the opposite side of the trade betting against the company in question.GameStop's short-squeeze, in-part led by the Wall Street Bets crowd, led to <a href="https://www.businessinsider.com/melvin-capital-lost-53-percent-january-after-gamestop-shares-skyrocketed-2021-1">a more than 50% drawdown in multi-billion dollar hedge fund Melvin Capital.</a> Meanwhile, the sharp rally in struggling movie theater chain AMC Entertainment <a href="https://markets.businessinsider.com/news/stocks/amc-short-seller-losses-stock-price-surge-8-day-rally-2021-6">caused billions of dollar in losses for short-sellers in May and June.</a>As traders look to replicate the success of Wall Street Bets stocks, one data aggregator is compiling the most mentioned stocks on Reddit's forum. These are the top 10 stocks Reddit's WallStreetBets forum is focused on right now, according to data compiled by <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">SwaggyStocks.</a> The list is based on mentions over the past 24 hours.10. AbbvieTicker: <a href="https://markets.businessinsider.com/stocks/abbv-stock">ABBV</a> Wall Street Bet Mentions Over Past 24 Hours: 113 Market Capitalization: $199.8 billion 1-Week Performance: -6.3%<div type="image" title="FILE PHOTO: A screen displays the share price for drugmaker AbbVie on the floor of the New York Stock Exchange July 18, 2014. REUTERS/Brendan McDermid/File Photo" height="1750" width="3500" msid="85876432" hostid="261"></div>9. SkillzTicker: <a href="https://markets.businessinsider.com/stocks/sklz-stock">SKLZ</a> Wall Street Bet Mentions Over Past 24 Hours: 114 Market Capitalization: $4.7 billion 1-Week Performance: 16.3%<div type="image" title="Skillz" height="861" width="1722" msid="85876434" hostid="261"></div>8. BlackberryTicker: <a href="https://markets.businessinsider.com/stocks/bb-stock">BB</a> Wall Street Bet Mentions Over Past 24 Hours: 118 Market Capitalization: $6.3 billion 1-Week Performance: 5.0% <div type="image" title="A shareholder uses his Blackberry while waiting for the Research In Motion annual meeting to begin in Waterloo, July 17, 2007." height="1138" width="2276" msid="85876437" hostid="261"></div>7. ContextLogicTicker: <a href="https://markets.businessinsider.com/stocks/wish-stock">WISH</a> Wall Street Bet Mentions Over Past 24 Hours: 118 Market Capitalization: $4.5 billion 1-Week Performance: 13.1%<div type="image" title="Wish CFO" height="799" width="1600" msid="85876440" hostid="261"></div>6. TeslaTicker: <a href="https://markets.businessinsider.com/stocks/tsla-stock">TSLA</a> Wall Street Bet Mentions Over Past 24 Hours: 136 Market Capitalization: $707.2 billion 1-Week Performance: 5.3% <div type="image" title="Tesla SuperCharger" height="3000" width="6000" msid="85876444" hostid="261"></div>5. AppleTicker: <a href="https://markets.businessinsider.com/stocks/aapl-stock">AAPL</a> Wall Street Bet Mentions Over Past 24 Hours: 147 Market Capitalization: $2.50 trillion 1-Week Performance: 4.0%<div type="image" title="An Apple store employee's dark silhouette next to a white glowing Apple logo" height="2010" width="4020" msid="85876445" hostid="261"></div>4. AMC EntertainmentTicker: <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a> Wall Street Bet Mentions Over Past 24 Hours: 176 Market Capitalization: $22.1 billion 1-Week Performance: 10.3% <div type="image" title="AMC Entertainment" height="1250" width="2500" msid="85876446" hostid="261"></div>3. ChewyTicker: <a href="https://markets.businessinsider.com/stocks/chwy-stock">CHWY</a> Wall Street Bet Mentions Over Past 24 Hours: 207 Market Capitalization: $36.9 billion 1-Week Performance: -11.3%<div type="image" title="Chewy IPO" height="750" width="1500" msid="85876450" hostid="261"></div>2. GameStop Ticker: <a href="https://markets.businessinsider.com/stocks/gme-stock">GME</a> Wall Street Bet Mentions Over Past 24 Hours: 221 Market Capitalization: $15.3 billion 1-Week Performance: 4.0% <div type="image" title="GameStop" height="1249" width="2500" msid="85876451" hostid="261"></div>1. AlibabaTicker: <a href="https://markets.businessinsider.com/stocks/baba-stock">BABA</a> Wall Street Bet Mentions Over Past 24 Hours: 332 Market Capitalization: $488.0 billion 1-Week Performance: 5.5% <div type="image" title="An office building of Alibaba Group is pictured on August 10, 2021 in Zhengzhou, Henan Province of China." height="2000" width="4000" msid="85876452" hostid="261"></div>

These are the 10 most talked about stocks on Reddit's Wall Street Bets

<ul class="summary-list"><li>Data on investment from retail traders points to video game companies becoming the next hot trade, particularly for millennial investors, says VandaTrack. </li><li>A surge in investment by retail traders has been seen in names including <keyword id="7371554" type="UNKNOWN" weightage="60" keywordseo="roblox">Roblox</keyword>, Sea Ltd., and Nvidia.</li><li>"While it's not 100% obvious that NVDA belongs to the gaming category...purchases of the stocks have risen inline with Roblox and Sea.," Vanda said in a note. </li></ul>Video game companies are gaining popularity with retail investors, with the signal coming from a pickup in purchases in shares of game platform <a href="https://markets.businessinsider.com/stocks/rblx-stock">Roblox</a>, among other names, according to VandaTrack.In a weekly update, VandaTrack, which monitors trading activity by US retail investors, said Roblox has seen a surge in retail investment since <a href="https://markets.businessinsider.com/news/stocks/roblox-stock-price-q1-earnings-beat-estimates-first-public-report-2021-5-1030416534">releasing its first-quarter financial report</a> earlier in May. The popular gaming platform in its first financial report since its shares started publicly trading in March, posted a wider per-share loss than a year earlier. But the stock soared on the report as Wall Street regarded Roblox's overall statement as better than anticipated.Positive sentiment has fed through to <a href="https://markets.businessinsider.com/stocks/se-stock">Sea Ltd.</a>, a video game and e-commerce company based in Singapore, and <a href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a>, which makes gaming graphics cards, said VandaTrack. Platforms <a href="https://markets.businessinsider.com/stocks/slgg-stock">Super League Gaming</a> and <a href="https://markets.businessinsider.com/stocks/sklz-stock">Skillz</a> are also candidates for another round of increased attention from retail investors."The personal attachment that millennial investors have with these companies makes them prime candidates to benefit from future purchases. Retail investors bought them late in the game (when the retail bubble exploded in February), so we think there is a high likelihood that they will revisit this opportunity," wrote Ben Onatibia, a macro strategist at Vanda.It's "not 100% obvious" that Nvidia belongs to the video game category, as the case can be made that it falls into semiconductors or hardware, but retail purchases of the company's shares have risen in line with Roblox and Sea, Vanda said. Retail investors flocked to Nvidia after the company said it would enact a 4-to-1 stock split, effective in July.Nvidia is set to release first-quarter earnings late Wednesday.

Video game stocks are primed to be the next hot trade for millennials, research firm says

<ul><li>The 35% plunge in <keyword id="4513420" type="PERSON" weightage="60" keywordseo="ark-invest">Ark Invest</keyword>'s flagship ETF is being driven by institutional investors, according to a report from Vanda Research.</li><li>Retail traders are instead holding on, if not adding to their exposure of the high-growth focused ETF.</li><li>"In periods when ARK ETFs have seen large redemptions, retail investors have actually bought the dip," the report said.</li><li id="recirc"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>The recent plunge in Ark Invest's family of ETFs is being driven by institutional investors rather than retail participants, according to a report from Vanda Research.The <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040">ARK Disruptive Innovation ETF</a> has dropped <a href="https://markets.businessinsider.com/news/stocks/5-stocks-decline-cathie-woods-ark-invest-flagship-arkk-etf-2021-5-1030398156">by as much as 35% since its record February high</a> as fears of <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-ark-innovation-etf-lowest-year-tech-stocks-2021-5-1030410825">rising inflation and higher interest rates</a> put a dent into the high-growth, technology focused investment portfolio. But retail investors are buying the dip in the ARK ETFs, while institutional investors are either selling or loading up on puts to hedge their exposure to the ETFs managed by Cathie Wood, according to the report."Blaming the demise of ARK ETFs on the fickle risk appetite of retail investors has been an easy way to explain price fluctuations since November," the report said.But of the $28 billion in fund inflows into the ARK ETFs, only $1.1 billion can be attributed to retail investors, according to Vanda Research. "In periods when ARK ETFs have seen large redemptions, retail investors have actually bought the dip, further highlighting the institutional-retail divide," the report said, pointing to data from retail brokerage firms like Robinhood and Fidelity.While retail investors are exhibiting a "diamond hands" mentality when it comes to ARK's family of ETFs, institutional investors have been closer aligned to "paper hands" <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading">trading</keyword> based on the surge in bearish bets on a number of Wood's favorite <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword>. For example, short interest in <a href="https://markets.businessinsider.com/stocks/sklz-stock">Skillz</a> has skyrocketed to 60% of its entire float in recent weeks, according to the report."The put premium traded in ARKK constituents has also exceeded the call premium for the first time ever, which suggests that institutional investors are trying to crush extremely overvalued stocks," Vanda Research said.Until these bearish bets on ARK ETFs moderate, "The storm seems far from over," according to the report."Institutional investors are far more exposed to ARK than most pundits believe. As prices continue to drop, we will likely see more forced liquidations while institutional investors who are not exposed will probably hedge their equity downside by adding shorts or buying puts," the report concluded.<div type="image" title="ark invest chart.JPG" height="311" width="494" msid="82576711" hostid="261"></div>

The plunge in Ark Invest ETFs is being driven by institutions rather than day-traders, report says

<ul class="summary-list"><li><keyword id="12681946" type="UNKNOWN" weightage="60" keywordseo="chris-sacca" source="Orion">Chris Sacca</keyword> championed amateur traders but urged them not to use borrowed money.</li><li>Sacca ended up $4 million in debt as a college student by trading on margin.</li></ul>Billionaire investor Chris Sacca has <a href="https://markets.businessinsider.com/news/stocks/chris-sacca-shark-tank-cheers-gamestop-traders-warns-dangers-debt-2021-1">cheered on</a> meme-stock buyers, warned rookie traders about the <a href="https://uk.finance.yahoo.com/finance/news/billionaire-investor-chris-sacca-says-123942840.html">dangers of debt</a>, and <a href="https://markets.businessinsider.com/news/currencies/chris-sacca-advises-people-pay-attention-69-million-nft-sale-2021-3">trumpeted non-fungible tokens</a> (NFTs) in tweets over the past year.The <keyword id="12681947" type="UNKNOWN" weightage="60" keywordseo="lowercase-capital" source="Orion">Lowercase Capital</keyword> founder and former "<keyword id="11938288" type="UNKNOWN" weightage="60" keywordseo="shark-tank" source="Orion">Shark Tank</keyword>" star — who shifted his focus to tackling climate change and social-justice issues in 2017 — also reflected on his ill-fated <keyword id="12017167" type="UNKNOWN" weightage="60" keywordseo="day-trading" source="Orion">day trading</keyword> as a college student, and <a href="https://markets.businessinsider.com/news/currencies/chris-sacca-bitcoin-ether-crypto-energy-usage-clean-energy-innovation-2021-5">revealed</a> he owns a variety of digital tokens. <h2>Here are Sacca's 12 best tweets about meme <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword>, <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>, and day trading over the past year:</h2>1. "To everyone who got into trading stocks this year, I have a little hard truth for you: You're not actually that good at it. You just caught a wild bull market. Take some money off the table." (<a href="https://twitter.com/sacca/status/1341783258191675394">December 23, 2020</a>)2. "To the angry Robinhood bros who got into trading stocks this year: I was wrong. You're amazing. This has nothing to do with the market. It's all you and your mad skillz. Don't take profits off the table. Double down, on margin. Borrow everything you can. Stonks never go down!" — responding sarcastically to backlash from day traders. (<a href="https://twitter.com/sacca/status/1342185135899176960">December 24, 2020</a>)3. "What percent of retail ownership of crypto is supported by leverage? What about stocks? I am beyond worried about the debt lessons that a generation of app traders weren't around to learn a cycle ago." (<a href="https://twitter.com/sacca/status/1342918222048215040">December 26, 2020</a>)4. "It's fun to read about home traders making bank. 20 yrs ago, I was one of you. Today I'm here to tell you: *Don't trade with money you don't own.* I know because I did that. I kited my student loans, YOLO'd them to $12m, and then, in an f'ing blink, I woke up $4m in debt." (<a href="https://twitter.com/sacca/status/1354631495730700288">January 28, 2021</a>)5. "Debt has no fucks to give when the price collapses. Debt doesn't care who gets the last chair when the music stops. Debt haunts, lingers, &amp; binds. Debt doesn't care about your green paper gainz screenshot, because two weeks later it sees the all-red screen that you never post." (<a href="https://twitter.com/sacca/status/1354631500696674313">January 28, 2021</a>)6. "I have axes to grind against a lot of the guys you're wrecking, and I love to hear about real people stacking chips. But, please, from someone who has been there and knows the hopelessness and depression ahead: Don't trade what you can't afford to lose." (<a href="https://twitter.com/sacca/status/1354631501850103810">January 28, 2021</a>)7. "I get what's going on with NFTs. Very cool and I am a collector at heart. But I have a feeling this is going to be the tech that finally turns me into the 'Yeah, but I only listen on vinyl' guy." – Sacca added that he doesn't believe NFTs are in a bubble. (<a href="https://twitter.com/sacca/status/1363608181255983106">February 21, 2021</a>)8. "Wow. @beeple. <a href="https://www.businessinsider.com/beeple-response-to-nft-selling-for-69-million-reaction-video-2021-3?r=US&amp;IR=T">$69m for a purely digital work</a>. No matter how you feel about NFTs, don't look away from this. It's okay to not get why someone would pay that, and it's okay to be bummed about the climate impact. But don't be willfully ignorant about what's happening." — (<a href="https://twitter.com/sacca/status/1370031493595226115">March 11, 2021</a>)9. "Only invest what you can lose. Don't borrow. Spread it around multiple investments. And, overall, assume you are going to lose your money and be pleasantly surprised if you get back more than you put in. Good luck." — (<a href="https://twitter.com/sacca/status/1371891722821627904">March 16, 2021</a>)10. "My only strong crypto opinions: 1) the climate impact bums me out 2) but that is the market impetus for a lot of clean energy innovation, 3) it's exciting, and 4) I have a lot more to learn. Disclosure: I own a broad basket ranging from early BTC/ETH to shitcoin lottery tickets." — (<a href="https://twitter.com/sacca/status/1393633461718507525">May 15, 2021</a>)11. "Oh, Stanford would've never accepted the likes of me. Those were Georgetown Law student loans levered all over the online brokerages. And, to be clear, I lost my face in the end. Seven figures in debt with nothing to show for it. I don't recommend it." — recalling how he traded on margin as a college student. (<a href="https://twitter.com/sacca/status/1439738813673181190">September 20, 2021</a>)12. "I got so much shit for this tweet. It's not fun to be right about it. I have been long this market and taken my lumps with everyone else. Just tried to help people not trade with money they don't own. Now my inbox is filling up with requests to bail strangers out of margin debt." — referring to the first tweet on this list. (<a href="https://twitter.com/sacca/status/1466838139108937737">December 3, 2021</a>)

Billionaire investor Chris Sacca has cheered on day traders, warned them about the dangers of debt, and revealed he owns crypto. Here are his 12 best tweets from the past year.

<ul class="summary-list"><li>US stocks were mixed on Friday after falling the day prior on fears of the capital gains tax hike proposed by president Joe <keyword id="60973" type="PERSON" weightage="60" keywordseo="Biden">Biden</keyword>.</li><li>Investors are analyzing the implications of the proposed higher taxes.</li><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> slid <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-below-50k-biden-tax-proposals-crush-risk-appetite-2021-4-1030337720">below $50,000</a> as Biden's tax proposals crushed risk appetite.</li></ul>US stocks were mixed on Friday after falling the day prior on fears of the capital gains tax hike proposed by president Joe Biden that would <a href="https://www.businessinsider.com/biden-reportedly-plans-nearly-double-capital-gains-tax-for-wealthy-2021-4">nearly double the capital gains ta</a> for wealthy Americans.Investors are now analyzing the implications of the proposed higher taxes and what will this mean for the financial system. David Bahnsen, chief investment officer, The Bahnsen Group, a wealth management firm, said Biden's plan will have a negative impact on the <keyword id="6357440" type="DEFINITION" weightage="60" keywordseo="Stock-Market">stock market</keyword>, though it is as yet unclear how big an impact it will have. "If the stock market really started to believe that the capital gains tax would double in 2022, it's entirely possible that there would be an acceleration of selling towards the end of this year and into early 2022," he told Insider.Bahnsen added that raising capital gains taxes is a disincentive for investors to sell their stocks at the appropriate time. "Not selling an asset that should be sold due to fear of taxes is distortive to <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>," he added.But congress is likely to settle on a <a href="https://markets.businessinsider.com/news/stocks/joe-biden-capital-gains-tax-increase-congress-limit-goldman-sachs-2021-4-1030337942">much more modest increase in capital gains tax</a> than Biden would like with the eventual figure likely to land at around 28%, analysts at Goldman Sachs said in a note Friday.Here's where US indexes stood at the 9:30 a.m. ET open on Friday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 4,145.13, up 0.25% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Dow Jones industrial average</a>: 33,791.17, down 0.07% (24.73 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: 13,882.51, up 0.45%</li></ul><a href="https://markets.businessinsider.com/stocks/sklz-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Skillz</a> <a href="https://markets.businessinsider.com/news/stocks/skillz-stock-price-jumps-cathie-wood-adds-million-shares-2021-4-1030338746">jumped as much as 8% on Friday</a> after Cathie Wood's ARK Innovation ETF added another 1,222,207 shares of the mobile gaming platform to its holdings the day before.In cryptocurrencies, bitcoin slid <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-below-50k-biden-tax-proposals-crush-risk-appetite-2021-4-1030337720">below $50,000 with $260 billion wiped off</a> the crypto market as Biden's tax proposals crushed risk appetite. Others digital assets tumbled as well. <a href="https://markets.businessinsider.com/currencies/eth-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Ether</a> fell 7% to around $2,220, <a href="https://markets.businessinsider.com/currencies/doge-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">dogecoin</a> fell 17% to $0.17, and <a href="https://markets.businessinsider.com/currencies/xrp-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">XRP</a> dropped 8%."It is clear that bitcoin is more sensitive to capital gains tax threats than most asset classes," <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-below-50k-biden-tax-proposals-crush-risk-appetite-2021-4-1030337720">Jeffrey Halley, a senior market analyst at OANDA, said</a>.Oil prices held steady Friday as Covid-19 concerns, especially in India, rose to new highs. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">West Texas Intermediate crude</a> slipped 0.13% to $61.35 per barrel.<a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestce=markets&amp;utm_medium=ingest" target="_blank" rel="noopener"> Brent crude</a>, oil's international benchmark, was also lower 0.26% to $65.25 per barrel.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Gold</a> climbed slightly by 0.5% to $1,797.52 per ounce thanks to lower US Treasury yields as well as a weaker dollar. The precious metal is on track for its third weekly gain.<pre> </pre>

US stocks trade mixed as investors mull proposed capital gains take hike

<ul><li>Venture capitalist <keyword id="577854" type="PERSON" weightage="60" keywordseo="Chris-Sacca">Chris Sacca</keyword> dismissed amateur traders' huge gains in 2020 as the product of lucky timing in a recent tweet.</li><li>"To everyone who got into trading <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> this year, I have a little hard truth for you: You're not actually that good at it," the billionaire founder of Lowercase Capital and former "Shark Tank" star said.</li><li>Sacca mockingly praised day traders in a follow-up tweet after weathering backlash for his comments.</li><li>"To the angry <keyword id="1268253" type="PERSON" weightage="60" keywordseo="Robinhood">Robinhood</keyword> bros who got into trading stocks this year: I was wrong. You're amazing," he said. "Stonks never go down!"</li><li>Sacca has repeatedly underscored the risks of trading stocks and other assets such as <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword>, especially with borrowed money.</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</li></ul>Newbie traders who scored massive windfalls in 2020 simply got lucky, billionaire investor Chris Sacca said in a <a href="https://twitter.com/sacca/status/1341783258191675394">recent tweet</a>."To everyone who got into trading stocks this year, I have a little hard truth for you: You're not actually that good at it," the former "Shark Tank" star and founder of venture-capital firm Lowercase Capital said. "You just caught a wild bull market. Take some money off the table."Read more: <a href="https://www.businessinsider.com/stock-market-risks-what-factors-could-cause-next-crash-2021-2020-12">Wall Street's biggest firms are warning that these 7 things could crash the stock market's party in 2021</a>Sacca's comments were met with swift backlash. Dave Portnoy, the Barstool Sports founder who became the <a href="https://markets.businessinsider.com/news/stocks/day-trading-boom-the-best-quotes-from-billionaires-2020-6-1029355205">face of a new generation of day traders</a> earlier this year, <a href="https://www.foxbusiness.com/markets/barstool-portnoy-response-chris-sacca-warning-new-traders">told Fox Business</a> that he doesn't know who Sacca is, but the investor "sounds like a sore loser and an idiot."The Lowercase chief - an early investor in Twitter, Uber, and Instagram - responded to the criticism with a <a href="https://twitter.com/sacca/status/1342185135899176960">sarcastic tweet</a> ridiculing Robinhood users, one of the most popular trading apps."To the angry Robinhood bros who got into trading stocks this year: I was wrong. You're amazing. This has nothing to do with the market. It's all you and your mad skillz. Don't take profits off the table. Double down, on margin. Borrow everything you can. Stonks never go down!"In internet slang, stonks is a deliberate misspelling of stocks.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-cheap-medtech-healthcare-2021-bofa-2020-12">BANK OF AMERICA: Buy these 16 medtech stocks with strong fundamentals that are set to soar post-pandemic</a>Sacca - who made his fortune in the early 2000s then lost a huge chunk of it when the dot-com bubble burst - has repeatedly cautioned amateurs about trading risks, particularly with borrowed money."What percent of retail ownership of crypto is supported by <keyword id="382268" type="PERSON" weightage="60" keywordseo="leverage">leverage</keyword>? What about stocks? I am beyond worried about the debt lessons that a generation of app traders weren't around to learn a cycle ago," Sacca <a href="https://twitter.com/sacca/status/1342918222048215040">replied</a> to a December 26 tweet by Bitcoin bull Mike Novogratz underscoring the risks of excessive leverage."Don't borrow to trade stocks/BTC," Sacca <a href="https://twitter.com/sacca/status/1342980712983449600">tweeted</a> a few hours later.Read more: <a href="https://www.businessinsider.com/investing-strategy-outperforming-vegan-etf-claire-smith-tech-stocks-2020-10">The founder of the world's first vegan ETF explains how her market-beating fund is naturally built to include the pandemic's biggest winners - and why industry titans like Facebook and Uber fit the bill</a>Sacca has issued similar warnings in the past."I'm here to tell you that trading millions of dollars you don't have is a thrilling way to ruin your health and financial future. Fun!" he <a href="https://twitter.com/sacca/status/1191844618893086720">tweeted</a> in November 2019."<keyword id="35175" type="ORGANIZATION" weightage="60" keywordseo="investing">Investing</keyword> is a great way to make money. Trading is a great way to lose it. Do yourself a favor and hide your "Stocks" app forever," Sacca <a href="https://twitter.com/sacca/status/398488155608727554">tweeted</a> in 2013.Sacca and his wife and business partner, Crystal, shifted their focus from day-to-day investing to tackling issues such as climate change, voter suppression, and criminal justice reform in early 2017.

You Searched For "skillz stock" and got 9 results

Cathie Wood's Ark ETFs bought over 3 million shares of Skillz the day it reported earnings. Now the stock is down 10% after shaky results.

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