NOTE: Spam and/or promotional messages and links within a comment will be removed.Include punctuation and upper and lower cases. Even negative opinions can be framed positively and diplomatically. Only post material that’s relevant to the topic being discussed. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. Benzinga does not provide investment advice. housing bubble, Burry also called for the “mother of all crashes” for the stock market last summer after stocks hit new highs. Shares of the ETF have given up most of the gains and are now up only 3% over the past five years.īurry has made huge public bets against the market several times and has a strong record of success. Shares currently trade at $35.74 at the time of writing and are down 63% year-to-date in 2022. The Ark Innovation ETF went from $38 to a price of around $160 before falling. This included Tesla, Zoom Video Communications (NASDAQ: ZM), Coinbase (NASDAQ: COIN) Global Inc (NASDAQ: COIN), Roku Inc (NASDAQ: ROKU) and others. Wood previously took on Burry after he went against the Ark Innovation ETF saying the former hedge fund manager didn’t understand the fundamentals of high-growth technology stocks.Ĭore holdings of Ark Innovation benefitted from the surge in valuation for growth stocks. Why It’s Important: The Ark Innovation ETF has given up the gains it saw during the 2020 to 2021 period. Related Link: 'Big Short' Investor Michael Burry Reminisces Dow's Largest Single-Day Fall In 2008: Wonders 'If This Could Be Worse' The answer being Greed,” Burry said in a since-deleted tweet.īurry attached a chart in the tweet that showed the decline in the price of the Ark Innovation ETF. How anyone over the age of 40 did not see it coming is a riddle. “This was coming because it has always been this way before. In the new tweet, Burry doubles down on being right about his prediction. If you don’t, you’re doomed to repeat it.” “There is a pattern here that can help you. “It is too early, she is too hot, and, today, short sellers are timid, but Wall Street will be ruthless in the end,” Burry tweeted previously in February 2021.īurry said Ark was “defining an era” and that history would prove to be right.
The Ark Innovation ETF was one of the most well-known funds after quadrupling in value from March 2020 to February 2021.īurry bet against both the Ark Innovation ETF and core holding Tesla Inc (NASDAQ: NASDAQ: TSLA) previously. What Happened: Former hedge fund manager Michael Burry singled out the Ark Innovation ETF (ARCA: ARKK) once again as a sign of the potential market collapse.īurry, who is best known for “Big Short” and betting against the housing market, said the ETF from Ark Invest was always set to decline in value after a sharp run-up in price. Well-known for making big bets on the market, former hedge fund manager Michael Burry shared a take on Ark Invest CEO Cathie Wood, someone he has battled with before. Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close
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