{"id":565274,"date":"2021-06-16T10:51:47","date_gmt":"2021-06-16T14:51:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=565274"},"modified":"2021-06-16T10:51:51","modified_gmt":"2021-06-16T14:51:51","slug":"cathie-woods-ark-etfs-buy-42-million-in-draftkings-after-short-seller-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cathie-woods-ark-etfs-buy-42-million-in-draftkings-after-short-seller-report\/","title":{"rendered":"Cathie Wood\u2019s ARK ETFs Buy $42 Million In DraftKings After Short-Seller Report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcathie-woods-ark-etfs-buy-42-million-in-draftkings-after-short-seller-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=565274&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1052314506-1200x800-1.jpg\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>Two of Cathie Wood\u2019s ARK ETFs purchased a combined 870,299 shares of DraftKings on Tuesday after the betting company experienced a dip in share price following a short-seller report from Hindenburg Research.<\/span><\/p>\n<p><span>Wood\u2019s Ark Innovation ETF purchased 688,702 shares, while Ark Next Generation Internet ETF purchased 181,597 shares, according to <\/span><a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/cathie-wood-ark-invest-buys-dip-draftkings-stock-short-report-2021-6-1030528428\"><span>Business Insider<\/span><\/a><span>. At closing, the combined stock was worth over $42 million.<\/span><\/p>\n<p><span>DraftKings is the 17th-largest holding of the Ark Innovation ETF, and the 19th-largest holding of the Ark Next Generation Internet ETF.<\/span><\/p>\n<p><span>\u201cDraftKings\u2019 stock came under pressure on Tuesday after the noted short-seller Hindenburg Research released a report detailing what they describe as \u201cblack market operations\u201d at the fantasy sports and sports betting operator,\u201d reported Business Insider. \u201cWhile the stock fell as much as 12% on Tuesday, it recovered to end the day down just 4%. Now, DraftKings has received some much-needed analyst support.\u201d<\/span><\/p>\n<p><span>Cathie Wood is Founder and CEO of ARK Invest, which holds $29 billion in assets according to <\/span><a href=\"https:\/\/www.forbes.com\/profile\/cathie-wood\/?sh=3b1ecc9a7360\"><span>Forbes<\/span><\/a><span>, investing in \u201cinnovations like self-driving cars and genomics.\u201d<\/span><\/p>\n<p><span>\u201cAfter stints at other investment firms, Wood created ARK in 2014 hoping to package active stock portfolios in an ETF format,\u201d Forbes explained. \u201cHer flagship $8.6 billion (assets) Ark Innovation Fund has returned an average of nearly 40% annually over the past five years.\u201d<\/span><\/p>\n<p><span>\u201cWood studied economics at USC under Art Laffer, the inventor of the Laffer Curve, which theorizes the tie between tax rates and tax revenue,\u201d Forbes added. \u201cWood is one of the biggest boosters of Elon Musk\u2019s Tesla. She predicts the electric car company will someday be valued at over $1 trillion.\u201d<\/span><\/p>\n<p><span>\u201cIn some ways, Wood is an unlikely evangelist for change. She\u2019s 65 and conservative, both politically and economically. For decades she\u2019s championed green investments, but she rarely uses the terms \u2018climate change\u2019 or \u2018clean energy,\u2019\u201d wrote <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/features\/2021-05-27\/cathie-wood-is-a-believer-from-bitcoin-to-tesla-even-as-arkk-fund-stumbles\"><span>Bloomberg<\/span><\/a><span>. \u201cAfter donating $1,000 to elect Donald Trump in 2016, she gave $25,000 to his presidential campaign and associated Republican political action committees in 2020, Federal Election Commission records show.\u201d<\/span><\/p>\n<p><span>According to Bloomberg, Wood has \u201cbemoaned President Joe Biden\u2019s plans to spend big and tax the wealthy,\u201d warning that \u201chigher taxes on companies and investors will discourage future innovation.\u201d<\/span><\/p>\n<p><span>Speaking in February 2019, Wood spoke of the importance of financial preparation in the event of a worldwide crisis.\u00a0<\/span><\/p>\n<p><span>\u201cThe best thing that can happen for us \u2014 and this is going to sound odd \u2014 is a crisis,\u201d Wood said in February 2019, almost a year before the onset of the COVID-19 pandemic. \u201cIt\u2019s usually when innovation takes root and gains traction.\u201d<\/span><\/p>\n<p><span>\u201c<\/span><span>ARK defines \u2018\u2019disruptive innovation\u2019\u2019 as the introduction of a technologically enabled new product or service that potentially changes the way the world works,\u201d explains ARK Invest\u2019s website. Its \u201cTop 10 Holdings\u201d include Tesla (9.58%), Shopify (4.39%), and Coinbase (3.58%).<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two of Cathie Wood\u2019s ARK ETFs purchased a combined 870,299 shares of DraftKings on Tuesday after the betting company experienced a dip in share price following a short-seller report from &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2280419,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1052314506-1200x800-1.jpg","fifu_image_alt":"Cathie Wood\u2019s ARK ETFs Buy $42 Million In DraftKings After Short-Seller Report","footnotes":""},"categories":[],"tags":[],"class_list":["post-565274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1052314506-1200x800-1.jpg","fifu_image_alt":"Cathie Wood\u2019s ARK ETFs Buy $42 Million In DraftKings After Short-Seller Report","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/565274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=565274"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/565274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2280419"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=565274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=565274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=565274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}