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Cathie Wood Can t Get Enough Of These 3 Chinese Alibaba Rivals
Alibaba Group Holding (NYSE:BABA) in the e-commerce and online groceries space.
The Jack Ma-led Alibaba has seen its shares slump 21.4% since October last year over troubles with the Chinese government, including the scuttling of the planned initial public offering of fintech subsidiary Ant Group. Alibaba was fined $2.8 billion by China in April as what many perceived to be the end of regulatory troubles for the e-commerce giant.
Wood s firm continues to hold about 636,894 shares in Alibaba, worth around $147.1 million as of Friday, but it has, in recent months, piled up significantly on stocks of rivals, some of which now account for a better part of its holdings than Alibaba.
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Shapeways, a leader in digital manufacturing, and special purpose acquisition company
Galileo Acquisition Corp (NYSE: GLEO) announced Wednesday that the two companies entered into a definitive merger agreement.
Shapeways provides access to high-quality, industrial-grade additive manufacturing, Kress said.
The company has delivered over 21 million individual parts to 1 million customers in 160 countries, the CEO told Benzinga.
Shapeways has developed a manufacturing operating system that enables the company to deliver high quality products economically, he said.
Kress On Manufacturing Partnerships: The medical, aerospace, industrial and automotive industries are aggressively leaning into additive manufacturing, Kress said, adding that companies in these industries are looking for partners to facilitate the process and Shapeways is one of those partners.
Ark ETFs (exchange traded funds) have been gaining lots of interest globally, especially since 2020 and going into 2021. Given the state of the global economy right now, any investment vehicle that’s not likely to tank is worthy of interest. Due to digital disruption and, more recently, Covid-19, lots of businesses are being forced to rethink the way they make.