“Innovation happening much faster than they expected,” Wood says of gas-powered vehicle manufacturers.
Wood says the companies that catered to shareholders who wanted profits now instead of investing for future growth will be sorry in the future without naming any specific companies. Companies put too much emphasis on a short-term time horizon, according to Wood, instead of focusing on the future.
What’s Next: Ark Funds promises that a new price target update on Tesla is coming in the next few weeks.
Wood has been vocal about Tesla s future plans for autonomous driving and robotaxis, and recently said on Benzinga s Raz Report that Ark s conviction on its autonomous strategy has increased over last few months.
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Mobile games platform
Skillz Inc (NYSE: SKLZ) shares tanked Monday after Wolfpack Research classified the latter’s top games as “stagnant to declining.”
What Happened: The short seller said on Twitter that Skillz’s top three games which make up for 88% of its revenues had already peaked by the third quarter of 2020 and its growth story is falling apart in the first quarter of this year.
Wolfpack wrote that while Skillz is projecting a 12.3% sequential growth and 61.4% year-over-year revenue growth in Q1 21, third-party app data indicates that the company’s total installations have declined by double digits in the first two months of the period.
Ark founder Cathie Wood s fund lineup rebounds after rotation pummels ETFs financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
(NNDM), (ARKQ) - Cathie Wood Shares Thoughts On Nano Dimension benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.