Cathie Wood-led Ark Invest on Wednesday trimmed all of its exposure to Netflix Inc (NASDAQ: NFLX) in one of the two active exchange-traded funds that own shares in the streaming video on-demand service.
“The trend is your friend” is an old saying on Wall Street. This means that when the market is trending higher, it’s likely to keep doing so. The first sign that an uptrend is about to end is the breaking of a trendline.
Cathie Wood-led Ark Investment Management on Monday shed about 16,621 shares — estimated to be worth about $2.68 million — in Alibaba Group Holding (NYSE: BABA), nearly decimating all of its exposure held in on of its three exchange traded funds.
Cathie Wood-led Ark Invest on Wednesday further increased her bets on Palantir Technologies Inc (NYSE: PLTR) on a day shares of the Peter Thiel-co-founded data analytics company extended gains.
When markets are rallying, the bulls are in control. When markets are heading lower, it’s the bears who are in charge. The break of a correctly drawn uptrend line shows the leadership may be about to change from the bulls to the bears.