There’s an inverse $ARKK ETF I will find and add to this thread. That sucker had to have jumped last week.
Ethereum’s “proof of stake” upcoming hard fork has crushed the prices of $NVDA GPUs on eBAY.
I’m not sure METARites and most analysts understand just how big this hard fork will be for Ethereum (and even Cardano which was designed from the get-go with proof of stake)and how it will temporarily hurt and depress prices for used $NVDA GPUs.
That said, Woods might be right or wrong here. Too early to tell.
Barron’s headline: Cathie Wood Sold Tesla Stock and Bought Nvidia After the Chip Maker’s Tough Day
By Al Root
Updated Sept. 2, 2022 8:52 am ET / Original Sept. 2, 2022 3:39 am ET
The ARK Innovation exchange-traded fund (ARKK) bought almost $32 million in Nvidia stock on Thursday. The fund also added about $9 million, combined, in Exact Sciences (EXAS), Ginkgo Bioworks (DNA), and Teladoc (TDOC).
Wood funded the sales mainly with Tesla (TSLA) stock, selling about $32 million worth of shares. The ARK innovation fund also sold about $9 million worth of Compugen (CGEN) and Signify Health (SGFY).
Daily chart looks for $ARKK, $NVDA, $TSLA, and $SARK (the aforementioned inverse $ARKK etf)
$ARKK daily chart (broke down through trendline support 3 weeks ago)
$ARKK weekly chart (it won’t take much more to fall to a horizontal resistance set during the worst of early COVID)
$ARKK monthly chart (that down channel looks like the Stairwell to Hell.)
$NVDA daily chart (blew out a horizontal support this past week)
$NVDA weekly chart (shows the long bullish trendline break down this week)
$NVDA monthly chart shows another horizontal (this one a long term horizontal "support) in the $125 area which is where I’d look for some temporary halt if $NVDA continues to fall. This is a company I want to buy and hold. But the charts have to firm up.
$TSLA daily chart
$TSLA weekly chart
$TSLA monthly chart
$SARK daily chart
$SARK weekly chart (faded bullish breakout on this chart)
$SARK monthly chart