Summary: Bullish on both TSLA and AAPL as auto market disruptors with the right battery technology.

structural marker; pre-classified as canonical yfinance ticker

$TSLA took a leaf out of the $AAPL book to lead the way.  With the right batteries, both will steal the auto show!
https://t.co/pGosO08HJO

Financial Resources + Innovation and Design capabilities. Could $AAPL disrupt the auto market? http://t.co/kh6QwYF1gs http://t.co/S6Hya1Wnpl


Summary: Bearish GOOGL: iOS ad blocking could eliminate 75-85% of its ads, giving Apple veto power over Google's ad business.

industry='Internet Content & Information'

With ad blocking, $AAPL will have veto power over $GOOGL. @Awl says that 75-85% of its ads could be blocked! Wow!
https://t.co/B5AxGd87aM

Great piece on iOS ad blocking. It's war between $AAPL and $GOOG, and publishers are the roadkill. http://t.co/b4DD3yhHia


Summary: Author disagrees with Bartman's view that TSLA is not disruptive; implicitly bullish on TSLA's disruptive potential.

1/2 Based on @claychristensen's #DisruptiveInnovation, @tom_bartman thinks $TSLA is not disruptive. We disagree! http://t.co/350UJwHRdn


We agree! Analyst Trip Chowdhry thinks Tesla's Gigafactory's market value could be as high as $50B.

Summary: Author endorses bullish view that Tesla's Gigafactory alone could be worth $50B.

We agree! "@ARKindu Analyst Trip Chowdhry thinks Tesla's Gigafactory's market value could be as high as $50B. https://t.co/PWeUq29c2k"


Watson's Cognitive computing cracks the code to an individual's cancer in minutes, instead of weeks. $IBM

Summary: Bullish IBM on Watson's cognitive computing breakthrough in cancer DNA analysis speed.

#Watson's #Cognitive computing cracks the code to an individual's #cancer in minutes, instead of weeks. $IBM
https://t.co/fE8nJEqIHM

Using $IBM #Watson to accelerate #DNA analysis: http://t.co/MAjo0VK33B


$ILMN #Grail could turbocharge sequencing … A $200-300B revenue opty!

Summary: Bullish ILMN: Grail integration could unlock $200-300B revenue opportunity by turbocharging sequencing.

A $200-300B revenue opty! "@ARKgenome $ILMN #Grail could turbocharge sequencing
https://t.co/8OsobFX129 by @wired " https://t.co/iMpNQKqXfp


Summary: Bullish DDD on plans to shift 3D printing to production, citing $500B market opportunity.

$DDD outlines plans to shift #3Dprinting from prototype to production…could be a $500B opportunity!
https://t.co/JDaNWtAaiD


Oracle as the new IBM — has a long decline started? ARK Invest agrees with @CurtMonash

Summary: ARK/CathieWood endorses thesis that Oracle is entering a long decline analogous to IBM.

Focused exclusively on disruptive innovation, ARK Invest agrees with @CurtMonash
https://t.co/yx9HaSRYWf

Oracle as the new IBM — has a long decline started? by @CurtMonash

https://t.co/fHgzP0tqX3


Summary: AMZN to displace Macy's as top US apparel retailer by 2017; bullish AMZN, bearish M.

Who will be its next Target?  $AMZN will replace $M as the top apparel retailer in the US by 2017. http://t.co/WXA24mf9Bm


Summary: MSFT raising cloud prices 11-26%; AWS unlikely to follow, implying MSFT pricing power advantage and AWS competitive disadvantage.

$MSFT “#Cloud prices are being revised [up 11-26%} for new and renewing contracts."  #AWS is unlikely to follow.  http://t.co/jL2nemsqj9


AWS is Amazon's cloud arm; parent is AMZN


Datacenters and autos are multi-billion $ opportunities for $NVDA...and much stronger cagrs than PCs

Summary: Bullish NVDA on datacenters and autos as multi-billion dollar, high-CAGR growth drivers.

MT @ARKwebx0: #Datacenters and #autos are multi-billion $ opportunities for $NVDA...and much stronger cagrs than PCs! http://t.co/tMU1T7R439


Summary: Bullish TSLA: autonomous/autopilot safety heroics will become the norm, implying durable upside.

Heroics will become normal. "@ARKindu Great piece on $TSLA autopilot & #autonomous safety benefits. https://t.co/DE3IDs2rtW @AarianMarshall"


Summary: IBM cited as a Buffett pick on the wrong end of disruption; implied bearish.

$IBM is another case in point.
https://t.co/OsIFV5isnE

Warren Buffet empathizes moat and durability. But the company he picks are all on the wrong end of disruption. https://t.co/3vr3DMGUEk


Summary: Bullish AAPL: recurring revenue model from Upgrade Plan is underestimated and will boost valuation.

Investors are underestimating the power of #AAPL's higher recurring revenue model to boost its valuation.
https://t.co/RfJaaSezZu

37% of iPhone buyers are going with Apple's Upgrade Plan $AAPL
This won't move this qrt but will be huge next year.
https://t.co/34EN78LuBI


Summary: Skeptical/bearish on CRM's healthcare strategy; dismisses it as cosmetic rather than substantive.

Isn't $CRM just putting lipstick on a you-know-what?
https://t.co/HJzTWSTPal

#Salesforce halfway savior to the #Healthcare dinosaurs? ($CERN, Epic, $GE). Don't see any $ATHN integration... http://t.co/30KGl8utue


Summary: Bullish AMZN as dominant player in automated consumption.

Yes, but $AMZN will dominate #automatedconsumption! "@ARKwebx0 Don't write off Apple's #AI fortunes just yet.
https://t.co/Sw2T2eeuHq"


Apple's services business will be Fortune 100 size by next year, says tim_cook

Summary: Relays Tim Cook's forward-looking claim that Apple Services will reach Fortune 100 scale within a year; implicitly bullish AAPL.

. @Apple's services business will be Fortune 100 size by next year, says @tim_cook
https://t.co/CnLexE4w4D by @Yahoo https://t.co/dd0Np7DkQf


Summary: Bullish ISRG: returning momentum, minimal competition, strong robotic surgery play.

industry='Medical Instruments & Supplies'

$ISRG is back...and it has very little competition...great #robot play.


$ILMN has entered the sweet spot of its S curve!

Summary: Bullish ILMN as it enters the high-growth inflection of its S curve.


Summary: Bullish lean on TSLA; suggests software-driven value appreciation could be a unique long-term differentiator.

$TSLA software update lets the Model S P85D reach 155 mph. Could $TSLA produce the first car to appreciate over time? http://t.co/EvsbT6T5fD


Summary: SSYS weak guidance seen as clearing decks for much better times ahead as 3D printing demand accelerates.

This kind of comment suggests that $SSYS weak guidance may be clearing the decks for much better times ahead.
https://t.co/sYBbsYLWgf

#Arcam CEO says the firm may have trouble meeting demand as aerospace firms accelerate adoption of #3Dprinting. https://t.co/tk0v7JKqeB


Summary: 10x Genomics long-read on Illumina's platform is bad for PacBio, good for Illumina.

Potentially bad news for $PACB, good news for $ILMN. @10xgenomics long read length sequencer on #Illumina's platform. http://t.co/TcjLrduNo9


Summary: Bullish SSYS as 3D printing becomes integral to industrial production, citing NASA rocket engine test.

#NASA and $SSYS show how #3DPrinting could become integral to industrial production.
https://t.co/RntO8JSxlq

Nasa tests a rocket engine where 75% of the components are #3D printed. Video of the test here: https://t.co/vPVvIQNnJV


Summary: Bullish ISRG as da Vinci FDA clearance expands addressable market from niche to general surgeries.

$ISRG broadens from niche into more general surgeries.. MT @MarketWatch: rises 6% on FDA clearance of da Vinci system http://t.co/83yQ99BJ0o


Summary: Bullish Bitcoin for excellent returns; Coinbase as the seamless platform to access it.

#bitcoin investments produce excellent returns; #Coinbase is there to present a seamless process.
https://t.co/eHywImDi6a


Summary: ARM pulling ahead of Intel; implied bullish ARM / bearish INTC on x86 displacement.

$ARMH is pulling ahead of $INTC.
https://t.co/orVSGjQhwa

1/ Is $INTC x86 processor living on borrowed time, as @gruber argues?
https://t.co/QksJnFTzvy


Summary: Bullish NVDA on expanding auto footprint and value chain ascent.

$NVDA is moving up the value chain.RT @ARKwebx0: $NVDA processors connect 6M cars now plus 25M in 5 years (2/2). http://t.co/Y0l0bSXRgp


Summary: Bullish TSLA on upcoming 430-mile-range Model S battery pack capability.

"$TSLA will be able to produce a battery pack for the #ModelS capable of delivering a 430 mile range" http://t.co/BS41nbDEHt


Summary: HBO competitive pressure raises marketing costs/prices, benefiting Netflix most.

(2/2) This could increase HBO's ($TWC) marketing costs and potentially its price umbrella, benefiting its competitors, mostly $NFLX.


Summary: Both AMZN and GOOG are winners in the cloud/services price war; everyone else loses.

Both $AMZN & $GOOG win: everyone else loses. MT @caseybergman: What Happens When AMZN and GOOG Start a Price War?(http://t.co/6xxHYMF4it)


Summary: NVDA named as a top beneficiary of the unstructured data supercomputing boom.

$NVDA looks like one of the top chip players to benefit from the unstructured data- related #supercomputing boom? http://t.co/PrQR9AJaDK


Summary: Bullish VCYT; positive Percepta lung cancer data confirms early conviction from CEO board appointment signal.

When John Bishop (CEO, $CPHD) joined the $VCYT board in December, we knew that #Veracyte was on to something!
https://t.co/eSrgL4E4ro

#NEJM reports positive data for $VCYT's #Percepta lung cancer test. http://t.co/y91tJkKG4U Potential to prevent unnecessary procedures.


Summary: Bullish AMZN long-term on millennial brand affinity.

MT @ARKwebx0: $AMZN's gonna be around for a longggg time given the affinity that #millenials have to it. http://t.co/H1a5G6ccJd


Summary: Bullish AMZN: AWS growing 80% and 4x more profitable than retail justifies premium over Walmart.

That's because #AWS - or Infrastructure as a Service - is growing at an 80% rate and is 4X as profitable as retail!
https://t.co/BW7NdcOaRt

$AMZN has now eclipsed Walmart in market cap with only 1/5th of its sales. #AWS http://t.co/4PBJfNwIla http://t.co/nt7kS0r8Ch


Summary: Bullish HUBS on Shopify partnership and improved CRM system; ARK adopting it as a user.

$HUBS is partnering with #Shopify, and others, to create a better #CRM system. ARK is signing up to be a user. uphttp://bit.ly/1Scqn0R


Summary: Bought ILMN after it failed to break to new highs on a strong report; still holding.

@JaneJanehw $ILMN had returned to its old highs and it didn't break out to new highs on a terrific report, a sell cue for some. I bought it.


Summary: India's EV fleet push and land offer to Tesla seen as bullish catalyst for TSLA.

India wants to switch to an EV fleet, potentially good news for $TSLA Model 3."@ARKindu India offers land to Tesla. https://t.co/eJrydiRsKd"


Summary: Bullish MSFT; HoloLens/AR seen as an underappreciated upside catalyst.

#HoloLens could be the sleeper at $MSFT.
https://t.co/DuO5y5C8MM

"There's no end to the potential of this #technology" #Microsoft all in on #HoloLens and #AR w/ new hire http://t.co/F0FP3OzRJg


Summary: Bullish AMZN Aurora displacing ORCL at 1/10th the cost; bearish ORCL as the migration target.

#Amazon's database Aurora, mentioned twice on $AMZN's earnings call, is one tenth the cost of an $ORCL database.
https://t.co/REZRT0BYSY

2/ $AMZN is actively targeting the likes of $ORCL now with its #Database Migration Services. Amazon Aurora out to kill


$AMZN is actively targeting the likes of $ORCL now with its #Database Migration Services. Amazon Aurora out to kill


Summary: Epigenetic research is a tailwind for PACB.

Epigenetic studies are good for $PACB. RT @ARKgenome: The #epigenetics of stress get passed down over generations. http://t.co/V5CNrEFD77


Summary: SSYS and DDD are mispriced as commodities; 3D printing's customization value means both are undervalued.

#3DPrinting is about customization, not commoditization, contrary to the way stocks like $SSYS and $DDD are priced!
https://t.co/jdRbYkBFHb

$SSYS works alongside Jacobs Institute to help repair brain aneurysm for mother of three. https://t.co/8Tz1Gb5pFr #3Dprinting


Summary: Sarcastic 'good luck' to GM/VW on competing for software talent implies they'll fail vs TSLA; bearish GM, bullish TSLA.

Good luck to $GM and #VW!  They need to attract software engineers away from $TSLA, #AAPL, etc. in #SiliconValley!
https://t.co/qtdn4H5b6Y

If #BigData = gold to tuning #selfdrivingcar ML algos, $MBLY's announcement w/ $GM and VW just made things a lot more interesting for $TSLA


They need to attract software engineers away from $TSLA, #AAPL, etc. in #SiliconValley!


Summary: Bullish Bitcoin as the vehicle taking blockchain technology mainstream, analogous to the Internet's disruptive impact.

"@ARKwebx0 #Blockchain: disruptive as the Internet. #bitcoin: taking blockchain mainstream https://t.co/LjRkCrhJQ6 " https://t.co/8PJ4XmtmMc


Summary: Bullish LC: small bank partnerships driving loan share gains from large banks.

Small banks are partnering with $LC to provide consumer and business loans, taking share away from large banks. http://t.co/Z4h5RjUpG2


Summary: Bullish AMZN; vouches the miss reflects overwhelmingly strong demand, not fundamental weakness.

#Amazon's business was so strong, it had trouble keeping up with it (nice problem to have)! $AMZN
https://t.co/4InL7C4SJF

Amazon's results may have missed analyst expectations, but not once did the company blame "macro headwinds". $AMZN


Summary: Bullish NVDA as GPUs dominate supercomputing architecture in key theme.

Supercomputing is key to our themes: with an 8:2 ratio of #GPUs ($NVDA) to CPUs, "the $CRAY CS-Storm is a...beast." http://t.co/jtDwXBTAEl


Summary: 3D printing names SYSS, DDD, XONE are not fads; endorses durable investability of the sector.

#3DPrinting helps #rocket scientists accomplish what they couldn't do otherwise: $SYSS, $DDD, $XONE are not fads!
https://t.co/SdurD1O45P

$OA successfully tests hypersonic engine combustor that was #3D printed. https://t.co/z0oSn1gkGL


Summary: Bitcoin, Coinbase, and Visa all benefit as BTC moves into mainstream via Coinbase Visa debit card.

#bitcoin is moving more into the mainstream thanks to #Coinbase and $V.
https://t.co/Jqj1gOJCeJ

#Coinbase's #bitcoin debit card accepted wherever #Visa is accepted :-O! https://t.co/2Iyxr2Ssl5


Summary: SPLK and CRM expected to make a notable move soon in Gartner BI quadrant context.

$DATA leads Gartner's Magic Quadrant For #BI. $SPLK and $CRM will make a splash soon! http://t.co/lfLtFocWON http://t.co/u3n6fnlRpt


Summary: Bullish on VR mega-theme beneficiaries FB, NVDA, GPRO, AMBA, and AAPL (Metaio acquisition) across gaming to healthcare.

.@carolmassar @business Yes, exciting...$FB, $NVDA, $GPRO, $AMBA, #YouTube...$AAPL just acquired #Metaio...from gaming to healthcare...Big!

@CathieDWood : you are spot on: Virtual Reality Named Next Mega Tech Theme by Piper Jaffray http://t.co/Su6KWo49Ua via @business


industry='Semiconductor Equipment & Materials'


$AAPL just acquired #Metaio...from gaming to healthcare...Big!


Summary: GOOG named as the autonomous vehicles winner; implied long.

...but $GOOG seems to be the #autonomousvehicles winner. #xfinance #innovation


Summary: Recent drop not representative of long-term trajectory; implicitly bullish on NFLX.

#Netflix's drop shouldn't be indicative of its long-term performance
https://t.co/DD4GoQF9iJ https://t.co/7KnETLn09v


Summary: Endorses Facebook's 70% R&D spending increase as the right strategic move; implicitly bullish.

$FB plans to spend 70% more on R&D in 2015 – absolutely the right thing to do! http://t.co/dAKdFgnkfv


Summary: Bullish TSLA as the pioneer and leader of OTA software updates in the auto industry.

Cars without OEM OTA software updates are like computers without access to the internet: $TSLA is the pioneer and leader of this revolution.


Summary: If TSLA manufactures inverters post-SCTY merger, SEDG faces a major competitive threat.

If so, $SEDG will have a big problem. "@ARKindu Will $TSLA manufacture inverters if the $SCTY merger goes through? https://t.co/YTe29kSZK6"


Summary: Bullish ILMN as the best picks-and-shovels play in genomics despite near-term growing pains.

Despite growing pains announced today, $ILMN provides the best "picks and shovels" for the gold rush in #genomics.
https://t.co/0bITw8zZzs

Genomics isn't coming out of the caveman era, unless the cave belongs to Plato: http://t.co/dSSAnwlHHS


Summary: Bearish AAPL: weak tablet sales and enterprise CTO pushback put it on the defensive, driving the IBM deal.

In light of weak tablet sales and enterprise CTO push back, $AAPL seems to be on the defensive; hence,...the $IBM deal.


Summary: Rising Bitcoin transaction volumes seen as a bullish signal for BTC.

Transaction volumes that are up and to the right only mean good things for #bitcoin https://t.co/C8vhkEkUsR https://t.co/4pCv0bzn8p


Summary: Author finds the Winklevoss Bitcoin bull case convincing; implied endorsement of long BTC.

Excellent...convincing! MT @businessinsider: Winklevoss Twins' presentation on why Bitcoin, the "internet of money." http://t.co/LSPgmQssvJ


Summary: Bullish NXPI as NFC/biometrics payments reach a tipping point in 2015.

#NFC and #biometrics...ditch passwords and credit cards. MT @ARKwebx0: Another #TippingPoint in 2015: #Payments $NXPI http://t.co/syWTCOJhRY


Summary: Author endorses Meg Whitman's view that 3D printing will change everything, bullish on HPQ and SSYS.

This morning on @CNBC, @MegWhitman said #3Dprinting "has the potential to change everything". We agree! $HPQ $SSYS http://t.co/7aKD6YxBcg


Summary: Bearish Oracle: RDBMS model breaking down on cost/rigidity/scale, Hadoop displacing it.

.@jill_rowley Enterprise RDBMS model is breaking down; high cost, rigidity and scale issues. #Hadoop is the killer http://t.co/pj91eIp0ep

Hi @CathieDWood -- congrats on the article in Forbes. Curious why you think Oracle is toast?


Summary: DOJ $20M bodycam pilot expands addressable market for Axon/TASER and potentially GoPro.

The #DOJ announces a $20 million pilot program for police #bodycams, expanding the market for $TASR and perhaps $GPRO http://t.co/ZJtakRxJay


Summary: Bullish CAR: restructuring, new leadership, and operational streamlining position it to benefit from the sharing economy.

Poised to capitalize on the #sharingeconomy, $CAR is restructuring, changing leadership, and streamlining operations. http://t.co/4NaUX4wEjk


Summary: GM and Ford are in trouble as Uber poaches Ford's self-driving engineering talent.

$GM $F are in trouble. "@ARKindu Uber poaches the director of engineering at Ford to help with self-driving cars. https://t.co/2AuDIhVon8"


Summary: Bullish IBM on bold pivot away from legacy tech via open-source blockchain smart contracts.

$IBM is making bold moves as it runs away from legacy tech.  Open source #blockchain smart contracts could be big!
https://t.co/4oFnK1NqWh

IBM using blockchain technology to enforce contracts, will offer up code as open source. http://t.co/YKQrWNdY0I


Summary: Twitter-Google deal putting tweets in search results seen as a big positive for both companies.

$TWTR and $GOOG team up, so tweets are front and center in search results...and that's a big deal! http://t.co/GlIO3S7mQS


Summary: Endorses Roche taking 56% stake in FMI and HLI partnership as great strategic moves; implied bullish both.

$RHHBY is taking a 56% position in $FMI and partnering with Venter's #HumanLongevity.  Great moves! http://t.co/EIURb7boAZ


Summary: Promotes ARKG and ARKK as long-term growth and diversification vehicles for forward-thinking investors.

Two new #ETFs for forward-thinking investors seeking long-term growth and portfolio diversification. #ARKG #ARKK http://t.co/aYRwgHJKSB


Two new #ETFs for forward-thinking investors seeking long-term growth and portfolio diversification. #ARKK


Summary: Bearish on MSFT for shutting down its robotics group while GOOG and AMZN stay in; author implies this will be regretted.

$MSFT is parting company with $GOOG and $AMZN...with it may regret. RT @ARKindu: $MSFT shuts down #robotics group.  http://t.co/EDL2I6nsZ0


Summary: Expects market weakness until September then a rally, based on presidential cycle pattern.

Heads down until September...then a nice ride! MT @ritholtz: Historical Presidential Cycle Pattern '28 through '12 http://t.co/5YIRhYay93 $$


Summary: ARKInvest names SSYS as the leader in 3D printing's manufacturing revolution; implied long.

.@ARKInvest believes #3DPrinting will revolutionize manufacturing: $SSYS is in the lead. http://t.co/7aKD6YPckk #Innovation


The sharing economy will be to transportation what cloud computing has been to tech $CAR

Summary: Bullish CAR (Avis/car-sharing) as sharing economy transforms transportation like cloud did tech.

The sharing economy will be to transportation what cloud computing has been to tech #cloudcomputing #tech $CAR


Summary: Bullish ILMN on dominant 80-90% DNA sequencing market share and strong growth potential.

@DavidSchawel Yes...$ILMN has 80-90% market share of all base pairs of DNA sequenced in the world, and incredible growth potential.


Summary: All three cybersecurity firms — SPLK, FEYE, PANW — will win despite competitive overlap in the large/growing landscape.

The #cybersecurity landscape is getting complicated...but the challenge also is massive.  These three should win!
https://t.co/ZVpIjrfK5o

$SPLK's latest #cybersecurity release puts it more in conflict with partners like $FEYE and $PANW. http://t.co/slnzG2ogiC


Summary: Bullish Bitcoin as disruptive innovation capable of changing global finance.

#Bitcoin epitomizes disruptive innovation that could change the way the world works, as @reidhoffman explains well.
https://t.co/5osGun90rW

"money is simply data, a simple way to measure and keep track of exchanges in value, or accumulations of wealth." http://t.co/T33zc0Gk9C


Summary: Bitcoin will become currency of many emerging markets; bullish long-term adoption thesis.

#bitcoin will become the currency of many emerging markets.
https://t.co/FkHsuo2zXU

WOOHOO! #Bitcoin officially becomes national currency (of Pontinha)! https://t.co/a1Hed6N4sX


Woody Allen signs first TV deal...with $AMZN. #contentisking #newplatforms

Summary: Bullish AMZN on Woody Allen content deal; content seen as a platform growth driver.


$GOOG says #cloud 'adoption curve is extremely accelerating...bigger than any market out there'

Summary: Cloud adoption accelerating per GOOG; author says bullish read-through for AMZN as well.

$GOOG says #cloud "adoption curve is extremely accelerating...bigger than any market out there" Good for  $AMZN too. http://t.co/NurpYnas66


Summary: Disney launching ESPN standalone streaming for Cricket World Cup viewed as a bullish catalyst.

ESPN $DIS to launch stand alone streaming video service for the #CricketWorldCup, a "new channel", not unbundling! http://t.co/unhDS28PZz


Summary: Positive mutation research news means increased sequencing demand, bullish for ILMN and PACB sequencer platforms.

Research on positive mutations...good news...MT @ARKgenome: means more sequencing to be done on $ILMN or $PACB sequencers.


Summary: AWS deep learning cloud expansion bullish for AMZN; competitive threat bearish for GOOG and MSFT.

$AMZN's #AWS planning new deep learning for #cloud service…watch out $GOOG & $MSFT!
https://t.co/JaHMmq06oN https://t.co/heW0l79ZoC


Summary: Mobile payments initiative seen as a catalyst that could significantly accelerate AAPL growth.

Mobile payments could turbocharge $AAPL. MT @ARKwebx0: .@AngelaAhrendts' sounds #mobile #payments on $AAPL's agenda. http://t.co/gPsqqhmPhK


Summary: Endorses ARK's bullish TSLA thesis: 1M vehicles by 2020.

Today's free publicity will help! MT @ARKindu: $TSLA could sell 1 million vehicles by 2020! Here's why: http://t.co/YxWid4nhPn


Summary: NVDA, XLNX, and AMBA named as winners in autonomous EVs via OTA-capable open systems vs MBLY's closed approach.

$NVDA, $XLNX, and $AMBA will win in autonomous electric vehicles, enabling #OTA updates.
https://t.co/4bHYDQCJYy

$MBLY says a closed system is better for #security, but that means no updates #OTA. http://t.co/12kN02GrlT


Summary: Dollar looks like it's breaking down; bearish on USD.

The dollar looks like it's breaking down. RT @FinancialTimes: .@fastFT: Bonds rise, dollar sinks as US growth slows http://t.co/KappyrdJm2


Summary: Bullish NVDA on booming gaming/auto platforms and ML opportunity.

"@ARKwebx0 $NVDA's gaming and auto platforms are booming. Machine learning (#Tesla) is a huge opportunity." https://t.co/vdWIJqD5DQ


Fintech will be de materialized and demonetize by Bitcoin in the next ten years

Summary: Bullish BTC as it disrupts and displaces traditional fintech over the next decade.

#Fintech will be de materialized and demonetize by #Bitcoin in the next ten years. #xfinance @singularityu


Summary: Bullish Bitcoin; frames skepticism as a contrarian buy signal for the disruptive asset.

#Bitcoin draws skepticism, as disruptive technology typically does. We like the skepticism:
https://t.co/NUGg46bDqy https://t.co/A6qsPnXBm2


Summary: ALNY RNAi success is a positive read-through for GENZ as well.

$ALNY success is a plus for $GENZ as well.
https://t.co/CC2MuKLwVI

$ALNY's #RNAi tech continues to impress. http://t.co/054a8ydlEM


Summary: Prefers SSYS, XONE, PRLB over DDD, implying DDD is less attractive amid aggressive spending concerns.

I prefer $SSYS $XONE $PRLB.  MT @ARKindu: $DDD continues aggressive spending. Do you still believe in their growth strategy?


$DDD continues aggressive spending. Do you still believe in their growth strategy?


Summary: NVDA in sweet spot vs INTC on GPU-centric computing; implied long NVDA, relative bearish INTC.

#GPUs are in $NVDA's DNA, putting it in the sweet spot - vis a vis $INTC - of many applications today.
https://t.co/qhgedPO17W

Even Intel chips are now more GPU than CPU. http://t.co/wqADQxpu66


putting it in the sweet spot - vis a vis $INTC - of many applications today


Summary: Bullish AAPL: installment plan marks shift to recurring revenue model driving higher valuation.

$AAPLs new installment plan begins its shift to a recurring revenue model, a la $NFLX, and a higher valuation!
https://t.co/TuoD2OJS4h

6/ Finally, the new installment plan means $1/day for contract-free, unlocked iPhone. Network providers more helpless than ever.


Summary: TSLA should benefit from a li-ion battery breakthrough.

$TSLA should benefit from this breakthrough! MT @ARKindu: ...the old algorithms don't always apply to li-ion!  http://t.co/TXQZbiSQH1


Summary: Bullish TSLA: Elon's autonomous timeline has accelerated and Tesla is now leading the race to driverless.

Two years ago, #Elon said that the last 10% of going driverless was uneconomic.  Now, $TSLA is first in line.
https://t.co/GIR3o6xDIg

1/ Elon Musk says $TSLA will have #autonomous cars in 3 yrs. http://t.co/vIh6Tf8a3W That's faster than $GOOG and others!


Summary: Bullish TSLA over GM/LG partnership: doubts GM+LG can match Tesla on performance and design despite closing battery cost gap.

While closing the battery cell cost gap with $TSLA, will $GM #LG compete on performance and design?  Unlikely.
https://t.co/sWOoI4l9FO

GM and LG form a strategic partnership for the Chevy Bolt EV. https://t.co/TzOWPjkndz


will $GM #LG compete on performance and design? Unlikely.


Summary: Author frames SSYS/graphene 3D-printing collaboration as a positive catalyst, implying upside.

$SSYS boosts graphene odds. MT @ARKindu: $SSYS & Graphene Tech work on #graphene enhanced #3Dprinting materials. http://t.co/sCskcznhQm


Summary: Bullish GOOG; media analysts miss price elasticity dynamic that benefits the stock.

Media analysts don't understand the price elasticity of demand like tech analysts do...but $GOOG responded well!
https://t.co/xFLUmSn5NH

$GOOG's business follows the classic economic recipe: more of less expensive clicks = more $$. https://t.co/mvzCrHqpQB


Summary: Cites 97% Tesla repurchase intent from Consumer Reports as bullish signal for TSLA.

Consumer Reports itself says that 97% of those surveyed expect their next car purchase to be a #Tesla.  $TSLA.
https://t.co/kACcrLqJAc

Musk responds to Consumer Reports, says survey included early cars and new cars are already fixed. https://t.co/0gABYER9HI


Summary: Endorses bitcoin adoption by NFLX in 190 countries as currency devaluation hedge; bullish BTC.

Now that $NFLX is in 190 countries, many of which are devaluing their currencies, #bitcoin payment makes sense.
https://t.co/m275MMMh1T

Netflix' CFO suggests bitcoin would be a boon for the video streaming giant https://t.co/eheGjil9ov


Summary: Bullish on ILMN following Genomics England contract to sequence 100,000 people.

More humans than all sequenced in history! MT @ARKgenome: Genomics England selects $ILMN to sequence 100,000 people. http://t.co/5X6kvgXw5A


Jeff Huber, SVP of $GOOG (ads, apps, and maps since 2003), just joined $ILMN's board. BaseSpace could take off!

Summary: Bullish ILMN on Google SVP joining board; expects BaseSpace platform to accelerate.


Summary: RHT and ARMH seen as credible challengers to INTC's server dominance; bullish on both, implicitly bearish INTC share.

With 35 partners, $RHT & $ARMH have a good shot at overcoming $INTC's dominant share of servers. http://t.co/rZ7qQWVzbt


Summary: Long NVDA as the dominant platform in VR/AR, autonomous vehicles, and genomics vs INTC falling behind.

$NVDA is showing up in the new world (#VR/#AR, #autonomous vehicles, #genomic research) more often than $INTC.
https://t.co/nb94uRYCSJ

Facebook just built an 8-GPU deep learning computer and is releasing the design open source. https://t.co/zQ085rhCF3


Summary: Endorses bullish view that bitcoin holdings will prove insufficient; implied long BTC.

Yes. "@ARKwebx0 RT @ARKblockchain: At #Consensus2026 will we wish we had more #bitcoin? https://t.co/g42lUwj2on " https://t.co/BImzVxyrhO


Summary: Bullish FB and GOOG as beneficiaries of $2.2T emerging market internet opportunity.

$2.2T in income and 140mm jobs waiting for the internet to be unleashed in #emergingmarkets. $FB $GOOG http://t.co/94fZpnvS2p


Summary: AMBA becomes a serious ADAS contender via VisLab acquisition, posing a threat to MBLY.

$AMBA buys VisLab for $30m and now a big contender in the Advanced Driver Assistance Systems industry. Beware $MBLY? http://t.co/e06BLX7r7p


Summary: Bearish on auto sector: 5% carsharing penetration could cut new car sales in half.

Global automakers; CARZ is global auto ETF proxy

With 5% #carsharing, new car sales could drop by half. MT @ARKwebx0: Auto makers don't see #ridesharing as threat http://t.co/Nig8Z2Sqsg


Summary: Shares bullish TSLA news: Musk more optimistic on cost declines + gigafactory work starting next month.

Elon is more optimistic about cost declines! MT .@fastFT: $TSLA to start work on gigafactory site next month http://t.co/fNj8Gs2X5X


Summary: Bullish SSYS: MakerBot past its extrusion problems and now scaling distribution to all Sam's Club locations.

MakerBot's extrusion issues must be behind it:  it is ramping up distribution to all of Sam's Clubs. $SSYS
https://t.co/0HsGdeNDKT

It's a full #3Dprinting rollout. http://t.co/sVhG4LHiSp $SSYS #Makerbot now in all @SamsClub locations.


Summary: Author flags TSLA, AMBA, and NVDA as overlooked beneficiaries of autonomous cars, implying bullish stance on all three.

#TheMotleyFool missed $TSLA, $AMBA, and $NVDA in this article.
https://t.co/NOeiqSvZQZ

Who will benefit from #autonomous cars? http://t.co/IjUMHUeVKQ Based on last earnings call we'd add $TSLA to the list.


Summary: Bullish TSLA; EV mileage accumulation makes it hard to catch competitively.

Tesla will be hard to catch! "@ARKindu Tesla adds 500 million #EV miles in roughly 3 months. https://t.co/l8qhM1EUpk"


Summary: Bullish TSLA on its data advantage in autonomous driving network development.

"@ARKindu $TSLA has a huge data advantage in evolving an #autonomous driving network. See our research: https://t.co/Rt5H0OWdzm"


Summary: Bullish SSYS; current price unfairly discounts a catastrophic market-share loss that won't happen.

Although the stock seems to be discounting it, $SSYS is not going to lose 80% of its market share!
https://t.co/JDrDzZTtxy

$SSYS is trading at a severe discount. http://t.co/bRlARq0KHy Does it make sense? Check out our research.


Summary: Bullish on REGN and Sanofi on efficacy of Praluent cholesterol drug.

Cheerios not lowering your cholesterol...? Maybe $REGN and Sanofi's can help with Praluent: it works 75% of the time!


$REGN and Sanofi's can help with Praluent: it works 75% of the time!


Summary: Author argues AMZN streaming HBO content is a net positive for NFLX by growing internet video overall.

$AMZN turbocharges internet video: + for $NFLX!  MT @srussolillo: Blow to $NFLX: HBO to allow $AMZN to stream shows.. http://t.co/3xLBKWbZkV


Summary: Bonds are in a bubble — bearish on bonds.

Broad bonds macro; AGG is aggregate bond ETF proxy

Neither: they are in a bubble. MT @dougmcintyre: Are Bonds Signaling a Recession, or Market Crash? http://t.co/qIgZkuc3lz via @YahooFinance


Summary: FDX/UPS losing ground as AMZN accelerates drone delivery bypass; bearish incumbents, bullish AMZN.

industry='Integrated Freight & Logistics'

$FDX and $UPS are giving $AMZN another reason to bypass them with #drones.
https://t.co/7bhA8gorzJ

$FDX and $UPS raise fuel charges by more than 2x despite falling costs. http://t.co/b8fPj1b0GO Seems like they're struggling.


$AMZN another reason to bypass them with #drones


Summary: Bullish ILMN: non-human sequencing market vastly larger than human genome market, expanding addressable opportunity.

Yes, big news...the #sequencing market for human #genomes is dwarfed by that for non human organisms $ILMN.
https://t.co/PDs6HPMDcN

$ILMN expands use of HiSeq X to include non-human species: http://t.co/hlRs7xi14s This is important news for science.


Summary: Bullish TSLA: battery packs to double Model S range without doubling price, per ARK research.

@ARKindu research shows how $TSLA battery packs will double the #ModelS range without doubling its price!  Read how: http://t.co/BS41nbDEHt


Summary: Bullish GOOG: insurance tech edge via data advantage creates a new deflationary growth vector in financial services.

Given its information on us, $GOOG will price risk better...adding another deflationary force to financial services!
https://t.co/3FWyqjfWKq

See all of $GOOG's insurance tech investments in this graphic: https://t.co/2sGxpoUbyB


Summary: Bullish on NVDA, XLNX, MBLY, and AMBA as key players in autonomous electric vehicles.

$NVDA and $XLNX have an important role to play in autonomous electric vehicles, as important as $MBLY and $AMBA.
https://t.co/W2rRMBgh4W

6/ Bigger opportunity than cameras could be sensor fusion between cameras & #LiDAR in #autonomous cars. Maybe $NVDA could do that.


Summary: FDA biosimilar approvals cutting drug prices 20-30% seen as negative for ABBV, AMGN, and JNJ.

Not good for $ABBV, $AMGN, or $JNJ...!"@ARKgenome FDA approval of #biosimilars could cut drug prices by 20-30%! https://t.co/GmClLA8zLG"


Our research points in the same direction! "@ARKindu Ron Baron sees a 30-50X from $TSLA."

Summary: Author endorses Ron Baron's 30-50X TSLA thesis, saying their own research agrees.

Our research points in the same direction! https://t.co/zzzd0Mcn3p "@ARKindu Ron Baron sees a 30-50X from $TSLA. https://t.co/VOR6kqzmTj"


Summary: Bullish on LC and ONDK as fintech disruptors squeezing out bank inefficiencies.

#InvestmentBanking will be hit by #CrowdFunding; #banks will be disrupted by $LC $ONDK ++ #xfinance - Squeeze out inefficiencies


Summary: NGS genomic sequencing labelled a game changer; bullish on ILMN, PACB, and TMO as key players.

#NGS ($ILMN, $PACB, $TMO) - a game changer! MT @ARKgenome: #Genomic #sequencing diagnosed deathly ill boy in 48 hours http://t.co/C16m74vy0P


Summary: Bullish SSYS on strong organic growth and investment strategy including GrabCAD.

With organic sales growth of 35%, $SSYS pulls away from $DDD +(10%) and is way ahead of $HPQ: we like its investment strategy, incl GrabCAD.


Summary: Bullish on NVDA and ARM partnership for active auto safety; 'we like this partnership.'

$NVDA and $ARMH are partnering to participate in active auto safety. We like this partnership.
https://t.co/z9NeANXUK1

Vehicle safety is shifting from physical features to software. 100x increasing needed in CPU performance. $ARMH
http://t.co/jmWr2T8Lvq


Summary: Bullish AMZN: robotics could save $400-900M in fulfillment costs, material vs $5B EBITDA base.

#Robots could save $AMZN $400-900 million in fulfullment costs...significant on an #EBITDA base of $5 billion!
https://t.co/p8rLjwTkaw

A look at why $AMZN and so many others are using #robotics http://t.co/tLm7zryCeb in logistics and manufacturing.


Summary: Bullish TSLA; disruptive innovation will prevail over dealer opposition.

$TSLA: disruptive innovation will win MT @elonmusk:NJ auto dealers subverting democratic process to block Tesla sales http://t.co/c4avMEIsGN


Summary: Bullish NFLX: author calls it in its infancy, citing Reed Hastings' target of 600M households vs 82M today.

$NFLX is in its infancy! "@ARKwebx0 Reed Hastings wants to be in one third of global households in seven years:  600m versus 82m today."


Summary: Bull market for 3 more years; bullish on broad bond market (BND).

Bull market for 3 more years! MT @valuewalk: $Fed Policy: Why Investors Shouldn't Fret, By David Rosenberg http://t.co/DRXRUdjHTd $BND


Summary: Alexa positioned as the key connector between home and car, bullish on AMZN as Hyundai and BMW integrate it.

First $F, now #Hyundai, soon #BMW. "@ARKindu  #Alexa ($AMZN) is going to be the link between home and car. https://t.co/Nxu6lqcTJ0"


Summary: Shares ARK's bullish thesis: ILMN set for significant growth reacceleration over the next few years.

ARK puts $ILMN into perspective & forecasts significant reacceleration in its growth rate during the next few years https://t.co/wgI2suVDcN


Summary: Bullish AMZN; believes it will leverage 3D printing to disrupt retail again.

Agree with this piece by @dominicbasulto: $AMZN will find a way to use #3Dprinting to disrupt retail again. http://t.co/C1YD6mgkwF


Summary: Apple's iOS ad blocker is a headwind for Google's ad revenue.

$AAPL ad blocker will be bad at the margin for $GOOGL.
https://t.co/kh7qA1TAB6

iOS 9 ad blocker improves page load speed by 74%. How will media sites survive? http://t.co/PKhUyVn8Qu


Summary: Bullish on Stratasys as a transformative force in future design and production.

$SSYS Stratasys will help us live symbiotically...not parasitically...imaging the future of design and production!
https://t.co/qgbSJgfFzb

#3Dprinting got a shout out at the #WEF 2016. https://t.co/Acfkw8NASu


Summary: Bullish AAPL: only 27% of users upgraded to iPhone 6, leaving a larger upgrade tailwind than consensus expects.

Only 27% of $AAPL users have upgraded to the 6, so it has more of a tailwind than most analysts seem to think.
https://t.co/sBCQyS2cLd

2/ Contrary to naysayers, iPhone 6S is a huge upgrade, especially for an S cycle. 3D touch + 12mp camera are palpable improvements.


Summary: Author affirms TSLA can and will execute on 75,000 vehicle sales target in 2015.

Yes, they can and, likely, will execute. MT @ARKindu: Will $TSLA sell 75,000 vehicles in 2015?  http://t.co/1uXceaY62k


Summary: Bullish ILMN: as sequencing costs slow to Moore's Law pace, demand will scale to billions of genomes.

Slowing to Moore's Law, demand will ramp to billions! MT @techreview: $ILMN Says 228K Human Genomes Sequenced in 2014
http://t.co/xXXSl70IKV


Summary: Amazon Prime's 44% US household penetration is a huge threat to Costco and Sam's Club.

$AMZN Prime's total membership at 49M in the US or 44% of all US households... huge threat to $COST & Sam's Club
https://t.co/CGmhO34JUj


Summary: Bullish SSYS, implying it will outperform DDD's no-growth outlook.

$SSYS will tell a much different story.
https://t.co/VHHMpG87CM

$DDD expects no organic growth. That's not good. http://t.co/ajAIG5MBvw #3Dprinting $SSYS


Summary: Bullish FEYE, PANW, CYBR as beneficiaries of the cybersecurity wave tied to surging cybercrime costs.

#Cyber-crime will cost $2 trillion by 2019 according to @juniperresearch #xfinance $FEYE $PANW $CYBR riding the #cybersecurity wave


Summary: Bullish GOOG/YouTube on ad spend shift from TV; author endorses the share-gain narrative.

$GOOG is taking share! "@ARKwebx0 Magna Global will spend $250m on #YouTube instead of TV
https://t.co/VaNzfh82nL " https://t.co/lviDYiOydh


Summary: Bullish NFLX as the innovative disruptor; bearish on HBO as a legacy player.

$NFLX has new DNA, #HBO good but old. MT @RichBTIG: @reedhastings posted that @NFLX surpassed HBO in sub revenues  http://t.co/c0790K5T78


Warner Bros. Discovery listed as WBD on NASDAQ


Summary: Bullish NVDA on autonomous car expansion with new Tegra X1 chip.

$NVDA is moving into the ultimate mobile device, #autonomouscars, with its new super chip, the #TegraX1. http://t.co/unnXDXmXEA


Summary: FB's Hello dialer app could threaten GOOGL's search dominance; bullish FB, bearish GOOGL.

$FB "Hello" could become a threat to $GOOGL #search.
https://t.co/LJ6S7n4ZP5

Facebook's infiltration of your phone continues with Hello dialer app - http://t.co/N1h4N0QHTa


Summary: Bullish ILMN: 36% sequencing-consumables growth will accelerate on HiSeqX-10 non-human sequencing expansion.

The 36% growth in sequencing-consumables will accelerate now that the HiSeqX-10 can sequence non-human organisms.
https://t.co/GWpnnVBh5a

$ILMN Quarterly YoY Sequencing Consumables Growth. http://t.co/SUVpRYPmFe


Summary: SSYS at 0.5x book vs DDD at 1x book seen as unjustified; implied SSYS is undervalued and should re-rate higher.

The bear raid on #3DPrinting stocks has pushed $SSYS down to 0.5X book, vs. 1X for $DDD...which does not make sense!
https://t.co/wJ6hQRbsxH

#3Dprinting for all! http://t.co/euvCRWsGeQ $ADSK Spark is now included in #Windows10.


Summary: FAA approval of commercial drone flights for BP seen as a positive catalyst for AeroVironment.

Nice win for $AVAV. RT @ARKInvest: @ARKindu RT @CNN: The FAA approved the first commercial drone flights for BP... http://t.co/Hqp2hXQqss


Summary: Bearish oil: EV adoption will cause inexorable demand decline within 2–3 years.

Oil commodity; USO is standard ETF proxy

According to our @ARKInvest’s research, #oil demand will falter falter relative to expectations within the next two years thanks to #EVs.

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We see EVs scaling 20-fold globally during the next five years, from 1.3 million in 2018 to 26 million in 2023.

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Commodity prices respond to changes in demand.  Oil demand will start to decline inexorably within two to three years.


Summary: US equities will rebound beyond near-term uncertainty on AI/robotics/innovation; rates likely surprise lower short-term before animal spirits unleashed.

US equity markets; SPY is standard proxy

During the uncertainty associated with the transition from Biden to Trump, the velocity (V) of money is rolling over, suggesting that monetary policy is tighter than the Fed may understand. I discuss this hypothesis in our In the Know webinar (link below), including charts.

V can either turbocharge the impact of money on GDP,  as it did during COVID, or detract from money growth, as it is starting to do now. On a year-over-year basis, V growth peaked at 11% in 2022 and has dropped to ~1%. During December, growth in M2 was 3.9% YOY, so V growth added another 1%, taking nominal GDP growth to ~5%.

More important at the moment, V declined ~1% sequentially from the third quarter to fourth quarter and probably is depressing GDP growth in the first quarter, which makes sense. Velocity can drop if individuals and companies become uncertain, fearful, or cautious.

Targeting waste, abuse, and fraud in government, @DOGE has put  federal government employees on notice and on edge, but the impact could be much more pervasive. Federal government employment accounts for only 1.9% of total employment in the US, but state and local governments, education, health care, and social services account for another ~28%.

In other words, today nearly a third of the labor force, and perhaps their families, could be holding back on spending until they see the impact of rapid policy changes. While we believe the changes will be net positive for the economy - perhaps massively so - the short term uncertainty is palpable.  After benefiting from preemptive buying in the fourth quarter to get ahead of tariff hikes, Walmart shocked the market last week by lowering guidance for same-store sales growth in 2025 to 3-4%, ~30% below its 5% gain in 2024.

I believe that the US has entered the last stage of the rolling recession that has been in place since the Fed hiked interest rates by a record-breaking ~24-fold in little more than a year starting in 2022. The consumer is the last sector to succumb. As this Administration succeeds in pushing funding from the federal sector to state and local governments, economic growth should begin to rebound during the second half of this year.

As a result, interest rates are likely to surprise on the low side of expectations in the short term while the Trump Administration puts in place policies that eventually will increase consumer and business confidence: they are likely to unleash the animal spirits and productivity that have been building thanks to breakthroughs in robotics, energy storage, AI, blockchain technology, and multiomics sequencing.

Turbocharged by AI, real growth should accelerate significantly from the 3% in place since 1900 during the next five years. We believe that, after recent downside volatility, equity markets soon will look beyond short-term uncertainty and reward strategies exposed to truly transformative innovation.

Full episode: https://t.co/YE8UswE61f


Summary: Long TSLA: robotaxi dominance transforms low-margin EV into high-margin recurring SaaS, with massive TAM vs current ridehail VMT share.

Perspective! In the most penetrated US geographies, human-driven ridehail accounts for ~3% of vehicle miles traveled. In an autonomous world, we believe $TSLA will dominate personal transportation, transforming a low margin EV play into a high margin, recurring revenue SaaS play.

People often compare robotaxi to human-driven ridehail, but the opportunity is much bigger.

In US core counties, ridehail is only ~3% of VMT on average. Even in SF it’s only ~13%.

Think bigger. Robotaxis will be everywhere.


Summary: Bullish NVDA: author argues inference complexity favors GPUs, countering the 'many chips will compete' narrative.

He also said that #AI inference is a billion or trillion times less complicated than training...so GPUs win! https://t.co/CWL8rhYtrQ

Jensen is saying many chips will compete for deep learning inference. Here is a slide I made earlier on the same idea. $NVDA https://t.co/P2zFOPxEq8


battle test @ARKInvest's bull and bear cases for $TSLA. We want to battle test the assumptions behind our original research and ideas

Summary: Endorses ARK's TSLA bull/bear valuation model; bullish long-term on TSLA as transportation transforms profoundly over coming years.

Please join us on github and battle test @ARKInvest’s bull and bear cases for $TSLA.  We want to battle test the assumptions behind our original research and ideas, and to help investors understand how profoundly transportation will change in the next few years!

You've seen our $TSLA valuation. Now, see for yourself how we got there. #Tesla  https://t.co/Ur8AocfK6e


Summary: Endorses Ethereum's zk integration as the right moves for scalability and privacy; implicitly bullish on ETH's institutional position.

I can’t say I understand all of the details here, but the Ethereum Foundation does seem to be proposing the right moves for scalability and privacy to maintain its lead in the institutional world.

Yesterday, the Ethereum Foundation (EF) published a blog announcing intent to go all-in on integrating zero-knowledge (zk) into the Ethereum L1: https://t.co/HfhaMZruhV
This could be a major upgrade, with massive implications for scalability and privacy. 🧵:


Summary: Bullish TSLA: vertical integration creating durable competitive moat in EV/AV that rivals will struggle to close.

#Square business model illustrates that vertical integration can create moats, or barriers to entry, and deliver superior financial results. $TSLA business model is doing the same thing, giving it a lead in the #EV/AV market that will be difficult for others to catch.

Square's transaction margin is rising as closed-loop transactions take more share of GPV.

While this makes up a small part of Square today and Square/fintech co's make up small part of payments today, it offers a glimpse of the value of controlling both ends of the transaction. https://t.co/yAEtD68RZq


Summary: NVDA is disruptive new DNA vs INTC old DNA; new DNA usually wins — bullish NVDA, bearish INTC.

$NVDA is new DNA, $INTC old...typical match-up in #DisruptiveInnovation.  New DNA usually wins. https://t.co/RMGSwxfppF

NVIDIA's speed of execution is matched only by the deafening silence from Intel–Mobileye.
https://t.co/l0E94pXQMf


$INTC old...typical match-up in #DisruptiveInnovation. New DNA usually wins


Odds are high that the gold price is heading for a fall. In our view, the bubble today is not in AI, but in gold. An upturn in the dollar could pop that bubble, a la 1980 to 2000 when the gold price dropped more than 60%.

Summary: Gold in a bubble at all-time-high vs M2; odds high it heads lower, potentially 60%+ drop like 1980–2000.

Gold commodity; GLD is standard ETF proxy

Odds are high that the gold price is heading for a fall. Intraday today, the market cap of gold as a percent of the US money supply (M2) hit an all-time high: higher than its peak in 1980 when inflation and interest rates soared to the mid-teens and, even more shocking... https://t.co/3nHLqIK22t

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the ratio of gold to M2 has hit the all time high recorded during The Great Depression in 1934. In that crisis, the dollar devalued relative to gold by almost 70% on January 31, 1934, the government banned private ownership of gold, and M2 collapsed.

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The US economy today looks nothing like the double-digit inflation-prone 1970s or the deflationary bust of the 1930s. True, foreign central banks have been diversifying away from the dollar for years; yet, the 10-year Treasury bond yield peaked at 5% in late 2023 and is now 4.2%.

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While parabolic moves often take asset prices higher than most investors would think possible, the out-of-this-world spikes tend to occur at the end of a cycle. In our view, the bubble today is not in AI, but in gold. An upturn in the dollar could pop that bubble, a la 1980 to 2000 when the gold price dropped more than 60%.


Summary: Long PLTR as future largest pure-play enterprise AI software company; cautious on MSFT navigating enterprise AI disruption.

I wonder how $MSFT and its enterprise clients are going to manage through this massive disruption. Palantir comes to mind. CEO Alex Karp believes that $PLTR will become the largest pure play enterprise AI software company in the world. I believe him.


I wonder how $MSFT and its enterprise clients are going to manage through this massive disruption


If 10-year Treasury yields were to settle in the 2-3% range, the S&P 500's PE would adjust accordingly: 1/.03=33

Summary: S&P 500 PE could expand to ~33x as yields settle 2-3% and AI-driven disruption concentrates growth in winner-take-most opportunities.

The equity market does not seem ever to have discounted 0.5%, 1%, 2%, or 3% yields on the 10 year Treasury bond. The PE on the S&P 500 has topped out at 20-25X regularly since the tech and telecom bust, even as 10-year Treasury yields have declined from 6%.

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The PE on the S&P 500 is likely to adjust to 2-3% nominal GDP growth as disruptive innovation creates “creative destruction” in the traditional world order. If 10-year Treasury yields were to settle in the 2-3% range, the S&P 500’s PE would adjust accordingly: 1/.03=33.

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Oh yes, I forgot to mention how scarce exponential growth opportunities are likely to become as #artificialintelligence creates more winner-take-most opportunities like autonomous taxi networks!


Summary: Bullish FB and GOOG: mobile ads <20% of total advertising, entering the steep S-curve growth phase.

Disruptive innovation...and #mobile ads still are less than 20% of total #advertising...entering the steep part of the S-curve! $FB $GOOG https://t.co/00aZnUfkQY

The past 9 months of disruption:

—@facebook ad revenue: $17.9b📱💻
—All newspaper ad revenue: $16.4b📰 https://t.co/2KttvHL47z


Summary: Long BTC: falling velocity means rising purchasing power as holders stop spending it.

Yes, for the reason @fredwilson explains, the velocity of #bitcoin classic will fall and its purchasing power will rise. https://t.co/2qdAVxP0Vk

Why Fred Wilson Doesn't Spend Bitcoin Anymore https://t.co/83QjTOyTwL https://t.co/SYIX5aPFeW


Summary: SegWit activation on Litecoin seen as a positive catalyst for Bitcoin.

...a positive for #bitcoin developers and for bitcoin. https://t.co/fTYN2znaEi

BREAKING: SegWit’s litecoin activation threshold has officially been reached: https://t.co/iyC9QHIcor https://t.co/Zb6u3sSgJp


Summary: Bearish oil: OPEC losing pricing power combined with Trump-era US energy production surge will pressure prices lower.

As important, in the US the Trump administration will encourage all kinds of energy production.  #OPEC has lost its hold oil prices. https://t.co/iCG7aL2nYH

Non- #OPEC Voluntary Cuts Unraveling Before They Even Start... #oil #energy #geopolitics #commodities $oil #russia https://t.co/fn2gAbu5Cj


AI is not in a bubble. The 123% increase noted below was in Palantir's US commercial business last qtr

Summary: Bullish Palantir on 123% US commercial growth; liquidity squeeze on AI and crypto expected to reverse in weeks.

In this recent webinar, I discuss why the liquidity squeeze that has hit #AI and #crypto will reverse in the next few weeks, something the markets seemed to buy, and why AI is not in a bubble. The 123% increase noted below was in Palantir’s US commercial business last qtr.

Watch here: https://t.co/RXBqqcaPsC

The AI story has just begun. Enterprises may be slow to show productivity gains, but @CathieDWood highlights that AI is flourishing on the consumer side and US commercial business was up 123% last quarter.

Fund webinar: https://t.co/oYbqsY4pMF https://t.co/9ual0iKfnI


the liquidity squeeze that has hit #AI and #crypto will reverse in the next few weeks

Broad crypto; BTC and ETH as primary proxies


Summary: Long TSLA with $4,000 five-year target ($2,000 fair value today at 15% discount) on autonomous taxi network opportunity, excluding trucks, energy storage, and China.

@ARKInvest believes that the most inefficiently priced companies and stocks in the market are those in the public equity market focused on innovation. $TSLA is the poster child for this inefficiency today. In this blog, @TashaARK offers great perspective!

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If @ARKInvest's analysis of the autonomous taxi network opportunity is correct, $TSLA will be worth $4,000 in five years.  At a 15% discount rate, $TSLA should be priced at $2,000 today...and we aren't including trucks, energy storage, or China in that calculation!


Summary: Implies crypto found support at May lows, reading the bounce as a cathartic bottom signal.

Yesterday's move seemed somewhat cathartic and stopped at May's support. I'm not a technician but sense that's how they would view this one. https://t.co/DEopuM4NWy

Damage not undone: today's bounce only retraced half of monday's crypto crash. https://t.co/SWrovpo7OV


Summary: Endorses BTC as fiat hedge; singles out TSLA and SQ as wise disruptors positioned ahead of creative destruction.

Companies disrupting the traditional world order - like $TSLA and $SQ - are wise to hedge their fiat reserves with $BTC. Other companies in harm’s way because of disruptive innovation should be investing their cash in new technologies to avoid creative destruction.

Companies buying #Bitcoin: "They don't know how else to mitigate risk."

@elerianm talks inflation fears, Fed expectations, and the timing mismatch between public/official sector $BTC adoption.

"It's part of the distortion of financial markets that we're seeing more generally." https://t.co/eJiqOkAQjK


Summary: Claims VIX could rise even in a bull market move, implying VIX will go up from current five-decade lows.

While most investors think that the $VIX will go up in a correction, #volatility works both ways:  the #VIX could go up in a bull move. https://t.co/Y2FN6Vgw7w

US equity volatility hits five-decade low https://t.co/Gv1Y3WPCeG


Summary: Bullish on CRISPR/gene-editing innovators like CRSP and VRTX; dismisses shorts as misunderstanding transformative innovation.

Financial analysts in the health care space do not seem to understand how innovation will transform their sector. Indeed, many investors are shorting the innovators that will end chronic diseases and disrupt the traditional pharma and biotech space. Truth will win out.

@CRISPRTX @VertexPharma 7/I’m fully aware that many - including myself, were expecting much better financial results from $CRSP & $VRTX launch of CASGEVY. Nevertheless, here is HHS secretary @RobertKennedyJr’s recent statement regarding his unequivocal support in CRISPR & Gene Editing therapies in which https://t.co/UnmixdacHZ


Summary: Bullish on Amazon's ocean freight expansion as a logistics-as-a-service growth avenue.

Amazon is expanding into ocean freight https://t.co/klhasTMw0w


Summary: Bullish TSLA: announcement validates ARK's autonomous truck thesis showing trucks beat rail on shipping costs.

Today $TSLA's announcement validated our research on #trucks, including the forecast that shipping costs will be lower via trucks than via #rail. Congratulations  @skorusARK, @TashaARK, and @wintonARK! https://t.co/7CSMuy78Rk

Elon is right. Trucks can beat rail. And autonomous makes it better. Here's our work showing how. https://t.co/oaOXob8zSF


Summary: Bullish ILMN as 20% owner of Grail, whose multi-cancer blood test detects ~2/3 of deadly cancers in early stages.

Impressive.  #Grail, owned 20% by $ILMN, is going to save lots of lives from #cancer. Its blood tests detected roughly two-thirds of the most deadly cancers in Stages 1-3.

We’re excited to announce the publication of validation data from our multi-cancer early detection test in @Annals_Oncology, supporting its ability to detect more than 50 types of cancer through a single blood draw #DetectCancerEarly. https://t.co/L0Un2ReQJw https://t.co/Gt9IEYXUHT


.@ARKInvest's research corroborates this outlook.

Summary: ARK endorses Elon's view that Tesla vehicles will command significantly higher prices as autonomous robotaxis, implying bullish TSLA.

.@ARKInvest’s research corroborates this outlook.

@DisruptResearch @flcnhvy @lexfridman @Tesla To be clear, consumers will still be able to buy a Tesla, but the clearing price will rise significantly, as a fully autonomous car that can function as a robotaxi is several times more valuable than a non-autonomous car


Summary: Bullish NFLX as a beneficiary of longer autonomous-vehicle trip times enabling in-ride entertainment.

Imagine...the #Uber cost from JFK to NYC will drop from $55-60 to <$10.  Oh, yes, the trip will take two+ hours...great for $NFLX et al! https://t.co/BOqSRyd14U


$TSLA is changing the world and making it a better place!

Summary: Bullish on TSLA; endorses strong demand narrative as world-changing.

Tesla Model 3 in Australia: "Staff were shocked at the demand and couldn't believe some people drove 8hrs just to be there" #NoDemand $TSLA $TSLAP


Summary: ARK/CathieWood bullish on multiomics sector, calling it the most underpriced part of the market despite initial negative reaction to Prasad's CBER appointment.

Multiomics is part of genomics; ARKG is closest ETF

While the market’s initial response to the appointment of @VPrasadMDMPH to head the CBER was negative, @ARKInvest believes that he will add even more credibility to the @US_FDA’s innovation mindset. The multiomics space is the most inefficiently priced part of the market.

1/
 Vinay Prasad at CBER isn't a step back—it's a recalibration.
Don't mistake scientific rigor for anti-innovation. He'll press for therapies that work, not just sound good.
No more $3M price tags for marginal gains.
The goal? Innovation that actually helps patients—not just


Summary: TSLA remains largest position in flagship strategy; trimmed only to manage concentration, not as a bearish call.

Thank you, Matt.  We disclose our holdings and trades every day.  In the fourth quarter, $TSLA soared while $NVDA was cut in half.  Both will be critical to the future of #autonomousvehicles. We knew what to do with that trade!

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Correction: A self-imposed restriction, while I can’t buy a stock that is 10% or more of a portfolio.  we don’t have to sell such a position.  We can let it run.  Given the stocks that were crushed last quarter, we sold some $TSLA to fund our other high conviction stocks.

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If we had not sold $TSLA, it would have hit 15% of some of our portfolios.

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$TSLA still is the largest position in our flagship strategy.


Summary: Cathie Wood bullish on US equities and dollar over next three years; expects a lid on gold as deregulation/tax cuts/sound policy replay Reaganomics.

The next three years could be Reaganomics on steroids, another golden age for the US equity market. Back then, early in my career, I remember how deregulation, tax cuts, sound monetary policy, and peace through strength sent the dollar soaring, which put a lid on the gold price!

Years of pressure have not broken the US economy, but have wound it tight. In a New Year’s letter, @CathieDWood shares her coiled spring theory and 2026 outlook, including insights on inflation, productivity, AI, bitcoin, gold, the dollar, and valuations.
https://t.co/B7PFLGpqFG


Summary: Both AMZN and NFLX win the streaming war; traditional media loses.

$AMZN and $NFLX both win, while traditional #media twist in the wind. https://t.co/PmAZuE993q

Who knew 5 years ago that Netflix's biggest competitor would be Amazon. Disrupt or be disrupted.  https://t.co/sc3gOUVAOh


Traditional media sector; PBS media ETF proxy


Summary: Cathie Wood argues disruptive-tech stocks (genomics, robotics, energy storage, AI, blockchain) are in deep value territory and will not repeat the 2000 bust — implicitly bullish on ARK-style holdings.

Thank you @freshjiva. Stocks sold off after the tech/telecom bubble because the "dream" would not become reality for 20-25 years. Genomic sequencing, adaptive robotics, energy storage, AI, and blockchain technology are realities, their stocks seemingly in deep value territory.

The number of companies that now trade at a discount to *net cash* has matched the highs following the 2000 bubble bust.

The calculation I used is of the strictest kind: (Diluted Shares Out * Price) / (Cash & Equiv - Total Liabilities).

We are getting close... https://t.co/3MtvCZNU2z


Summary: Bullish TSLA: drivetrain cost declines will halve Model 3 price to $25K, undercutting all competition.

On @CNBC this week, @SaraEisen asked if #Tesla is cutting prices in response to competition. After investor day, @skorusARK illustrated that Tesla is passing along drivetrain cost declines that will cut the price of the Model 3 in half to $25,000, undercutting competition!

75kwh x $70 per kWh = $5,250
+$1,000 powertrain = $6,250

$6,250 / 25% = $25,000

(Drivetrain is typically ~25% the cost of the vehicle)

The future is electric.


Crossing 20% share, cloud adoption is entering the sweet spot of its S-curve.

Summary: Cloud software sector entering S-curve sweet spot at 23% workload penetration, implying long runway for growth.

Cloud software sector; WCLD is cloud software ETF

Data from Morgan Stanley CIO survey: only 23% of workloads running in the cloud today. Longgggg runway left for cloud software https://t.co/P4RjSVP0FV


Summary: Energy stocks will continue underperforming the S&P 500; XLE/SPY ratio to keep declining.

It's going to get worse over time. https://t.co/iqmhDRlyq4

Ratio of Energy stocks to the S&P 500 hitting a 13-year low today. $XLE $SPY https://t.co/4TWiQkMNXk


Summary: Jack Dorsey's Lightning Network support is bullish for Bitcoin, litecoin, and Square stock.

@square’s role in this ecosystem should be quite interesting.  Jack Dorsey seems to be positioning it as a wallet.  His support of the Lightening Network is great news for #bitcoin, and potentially for #litecoin and $SQ. https://t.co/idvI7fyN7w

Great day for Bitcoin: Bitcoin Lightning Startup Goes Beta With Twitter CEO Backing https://t.co/Wh3L0Dq7Bv via @CoinDesk


the dollar is poised to turn and move up dramatically, as it did in the early eighties because, based on this administration's economic policies, the return on invested capital in the US is likely to increase relative to that in the rest of the world

Summary: ARK's non-consensus view: USD poised to rise dramatically on Reaganomics-style policies boosting US return on invested capital vs rest of world.

Based on many of the replies here, an underlying assumption is that the US dollar’s role as the world’s reserve currency is diminishing, in line with US exceptionalism, the same sentiment before Reaganomics. This administration’s economic policies are Reaganomics on steroids.

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In ARK’s non-consensus view, the dollar is poised to turn and move up dramatically, as it did in the early eighties because, based on this administration’s economic policies, the return on invested capital in the US is likely to increase relative to that in the rest of the world.


The equity markets are ignoring some of the most profound cancer breakthroughs in history, an indictment of the shift to passive and benchmark sensitive investing and what we believe is the most egregious misallocation of capital in history.

Summary: Equity markets are deeply undervaluing cancer-breakthrough companies; bullish on genomics/liquid biopsy sector as a major misallocation opportunity.

Genomics/liquid biopsy sector; ARKG is ARK Genomics ETF

The unmet need created by cancer is durable and non-seasonal. Cancer doesn't care about interest rates or pandemic-driven whipsaws in consumer preference.

Molecular methods to detect, risk-stratify, diagnose, and monitor cancer (e.g. liquid biopsy) are around to stay. https://t.co/JNdfcZkZEV


I'll place my vote on the #FDA and Manisha, not laymen in Congress

Summary: Bullish CRSP on FDA fast-track designation for CRISPR beta thalassemia treatment; backs FDA's conviction over Congressional skeptics.

.@msamyARK has done research on and with CRISPR gene-editing.  She agrees with the FDA’s announcement yesterday that $CRSP’s CRISPR is ready for “fast track designation” to treat and cure beta thalassemia. I’ll place my vote on the #FDA and Manisha, not laymen in Congress.

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I admire the FDA’s courage and conviction.  It will save and transform lives!


Summary: Bullish TSLA: battery cost advantage via Wright's Law + 3-year lead over rivals supports demand growth with limited margin hit.

Now that supply chain bottlenecks are diminishing, #Tesla can cut prices in line with battery cost declines, driving demand while limiting the impact on profitability. According to Wright’s Law, battery costs drop 28% for every cumulative doubling in unit production!

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According to @skorusARK’s research, having leveraged off the consumer electronics industry (which most other auto manufacturers did not do), Tesla’s batteries are three years ahead of the competition in terms of costs for a given range and performance.


short #dollar is either the most or second most crowded trade in the market today. This 'reverse head and shoulders' could blow that trade up, as the #ROIC is rising dramatically in the US relative to that in the ROW, thanks to tax reform and massive deregulation!

Summary: Bullish USD: crowded short-dollar trade at risk of squeeze; reverse H&S pattern + rising US ROIC vs. ROW on tax reform and deregulation.

DX-Y.NYB = DXY dollar index; UUP is liquid ETF proxy

Be careful:  short #dollar is either the most or second most crowded trade in the market today.  This “reverse head and shoulders” could blow that trade up, as the #ROIC is rising dramatically in the US relative to that in the ROW, thanks to tax reform and massive deregulation! https://t.co/bIQODpqcMK

The pace of the downtrend in the U.S. dollar index (DXY) is nearly identical to the previous cycle (blue lines in the chart) https://t.co/KYmvjGVhlL


Summary: If tax reform and Warsh as Fed head materialize, equities get a boost — conditional bullish lean on US stocks.

If Larry is right about #TaxReform17 and #KevinWarsh, equities will get a fillip. https://t.co/G1lSrOPDwD

W/out doubt, @realDonaldTrump absolutely committed to tax cuts. And #KevinWarsh may be new Fed front runner. https://t.co/8Ttw7sxwZ8


Summary: Long TSLA with $7,000 base-case price target; ride-hailing launch reduces bear-case probability over 5 years.

If successful, which we believe will be the case, a $TSLA ride-hailing service will lower the probability of our bear case substantially during the next five years, bolstering our base case at ~$7,000. We are encouraged that few analysts are modeling this possibility!

Although it didn't face many such questions on its earnings call last week, ARK believes #Tesla has strategic & tactical reasons to launch a ride-hailing service with human drivers before its robotaxi network launches next year. Analyst @TashaARK has more: https://t.co/SKKfCYdIcV


Summary: Bitcoin appears undervalued at ~$34B market cap vs Amazon and Apple; implied bullish.

True and possible...though at <$2,100 today, or $34B "market cap", #bitcoin seems quite undervalued vs AMZN ($475B) & $AAPL ($800B). https://t.co/11b3fI5LYx

@IamNomad Indeed, Bitcoin could drop to just above $1,000 and still be in a bull market . https://t.co/pvdzRl9Nhw


Summary: Bullish ZM as enterprise comms fabric; bearish FIVN as the dependent, weaker party in the relationship.

.@issgovernance: If, as we anticipate, $ZM is evolving into the fabric connecting global enterprise communications, then $FIVN will need Zoom more than Zoom will need Five9. Here's our blog. Happy to discuss and debate! https://t.co/5Ucz2cqSJ1


$FIVN will need Zoom more than Zoom will need Five9


Summary: Bearish GOOG: LLMs will disintermediate/destroy Google Search, its core revenue driver, despite AI expertise.

Even though Large Language Models (LLMs) are in the process of disrupting it, $GOOG is one of the top holdings in most growth portfolios. Analysts and portfolio managers feel “safe” because $GOOG is one of the top weights in the benchmarks against which they are measured.

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They also believe that Alphabet has the best #AI expertise in the world which, arguably, it does, thanks to its acquisition of #DeepMind. The problem is that #LLMs like GPT4 are going to disintermediate and perhaps destroy $GOOG search, the bulk of its business.

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Because of the way they are measured, most large cap growth managers “hug” their benchmarks: their portfolios look quite similar, with $GOOG near the top. The impact of “quantitative research” - putting indexes at the center of investment the process - has gone too far.

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In our view, the shift toward indexed-based investing in the last 30 years - even more so since 2000 as investors ran away from risk after the tech and telecom bust and the Great Financial Crisis - has created the most massive misallocation of capital in history.


Summary: Bullish on US equities broadly; compares current cycle to the ~20-year post-Reagan bull market, arguing it has just begun to broaden.

S&P 500 index; SPY is standard ETF proxy

From my first economic course with Art Laffer: GOVERNMENT SPENDING IS TAXATION. Government spending raises taxes today, or burdens our children with higher taxes in the future, or debases the debt and the dollar with inflation, the most regressive tax of all.

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.@DOGE is likely to change the mindset profoundly in Washington, as other policies focus on rapid growth to reduce the deficit relative to GDP and, in a virtuous cycle, raises the probability of even lower taxes on individuals and companies.

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The Reagan revolution extended through President Clinton’s administration, leading to lower taxes, stronger GDP growth, and a bull market rewarding active equity management that lasted nearly 20 years. We believe that this bull market has just begun to broaden out.


Summary: Bullish on CRM citing exponential AI-driven client revenue growth; ARK Invest interested.

#Exponential growth...a six fold increase in $CRM's client revenues in four years.  Where can #ARK Invest sign up? https://t.co/E8W9ZVhUrg

The massive impact of AI on CRM - Trillion Dollar Boost - https://t.co/HIQPBEwe8F c @Benioff @RichardSocher @btaylor https://t.co/kA1N2r0jXO


Summary: Long CRSP and NTLA as undervalued CRISPR patent holders; market caps too low vs. trillion-dollar addressable markets in cures and prevention.

.@demishassabis understands that most of the healthcare budget today is really “sickcare”, that AI and CRISPR will cure the sick, and that trillions of chronic sickcare dollars will shift toward cures and prevention.

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Unfortunately, most equity investors are not willing to underwrite @demishassabis’s vision of turning “sickcare” into healthcare: prevention and cures. Indeed, the market caps of two of the most important patent holders, $CRSP and $NTLA, are only ~$5B and ~$1.5B, respectively.

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Indeed, Crispr Therapeutics already is generating revenue from cures for sickle cell disease (SCD) and beta thalassemia. The markets it is targeting—including cardiovascular disease—could be worth trillions of dollars.


Summary: Implies Bitcoin is a store of value / inflation hedge as hyperinflation drives demand in Zimbabwe and potentially Catalonia.

Debtors are thrilled with hyperinflation as they pay banks back in Zimbabwe dollars and hoard #bitcoin.  Lenders lose as borrowers pay them back in worthless currency.  Seeds of another banking crisis...?  Will #Catalonia resort to the same strategy? https://t.co/sa3BxPGIoc

Bitcoin Price Nears $10,000 in Zimbabwe Due to a Lack of Cash in the Country https://t.co/FoJErPRWeW


Summary: High-conviction long TSLA based on Wright's Law research; compares opportunity to AMZN 10-15 years ago with potential multi-year climb ahead.

Thank you, Eric, for pointing out how many stocks are doing so well for us!  Interestingly, no one said anything on Twitter last year when $TSLA was up roughly 50% from its low and 25% in the fourth quarter. #Tesla was a great diversifier when other stocks were getting crushed.

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$TSLA during the past five years reminds me of $AMZN from 2004-2009. Investors/speculators laughed at worst or were baffled as we bought the stock when it tanked into the 20’s and 30’s in a 25-120 trading range. Trading recently at $2,000, #Amazon is one of my best stocks ever.

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Now that its success is obvious in hindsight, most sell-side analysts remember that I bucked conventional wisdom and applauded the fact that Amazon was investing aggressively to capitalize on the inevitable shift to e-commerce and #AWS, at the expense of short-term profits.

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Centered on Wright’s Law, our first principles research is the reason for my conviction that $TSLA is as profound an investment opportunity today as was $AMZN 10-15 years ago.

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Led by our DoR, @wintonARK, our analysts - @TashaARK, @skorusARK, and @jwangARK - are contributing important research to the investment community. Our $TSLA model and assumptions are on GitHub. We are grateful for the contributions others are making to make it more robust.

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As the record shows,$TSLA has contributed positively to the performance of our strategies since inception. Importantly, we have traded it aggressively in the 141-387 trading range in place since our inception in 2004, while maintaining it as our first or second largest position.

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Interestingly, on Friday $TSLA hit its 100 month moving average, roughly the same place that $AMZN hit before beginning its eight year climb from 35 to 2000. Perhaps the HFTs and algorithms that dominate trading these days will take note. We shall see.


Summary: Bearish oil: age is over, peaked in 2008, EVs to drive price to $10.

The #oil age is over.  It peaked nearly 10 years ago in 2008.  #EVs will put the nail in the coffin.  I wouldn't be surprised to see $10. https://t.co/1UHi1sAWEU

“The Stone Age didn’t end for lack of stone, and the oil age will end long before the world runs out of oil.” https://t.co/Bma9dSIC8k https://t.co/kkYpInGcYa


Summary: Bullish BTC following news of no more 2x leveraged ETF; expects price to rise.

#BTC up and away! https://t.co/hl8YOVnr2V

No more 2X https://t.co/uyQbO5Lt0I story coming shortly


Summary: Bullish on ARK-style disruptive innovation strategies; expects another leg up within 3-6 months as inflation fears peak and commodity deflation accelerates.

Most bears seem to believe that inflation will continue to accelerate, shortening investment time horizons and destroying valuations. Despite what we believe has been a supply-chain related/short term burst in inflation, both equities and bonds have appreciated since March➡

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Unlike the tech and telecom bubble, this equity bull market has broadened beyond the innovation strategies that boomed last year to value and other stocks that had trailed. The bull market has strengthened, setting the stage we believe for another leg up in innovation strategies.

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The equity market is likely to reward disruptive innovation strategies once again when headline inflation breaks and/or fears of recession increase. If the bond market is correct, one or both will be obvious during the next 3-6 months.

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Since mid May a number of commodity prices have been breaking down: lumber -65-70%, copper -10-15%, oil -10%. An unexpected increase in the dollar also is negative for commodity prices. Now the Mannheim used car index - a leading index for new car sales - is slipping.

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The deflation in commodity prices is cyclical but is adding to the secular forces caused by technologically enabled disruptive innovation (“good deflation”) and creative destruction (“bad deflation”).

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If we are correct, GDP and revenue growth will diminish until the opportunities in nascent technologies begin to move macro needles. In this environment, innovation based strategies should distinguish themselves.

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In our view, the seeds for the innovation explosion that @ARKInvest is dedicated to researching were planted during the 20 years ending with the tech and telecom bust. Having gestated for more than 20 years, these technologies should transform the world during the next 10 years.

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To his credit, Michael Burry made a great call based on fundamentals and recognized the calamity brewing in the housing/mortgage market. I do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space.


Thanks to Tesla's leadership in autonomous mobility and humanoid robots, as well as breakthroughs elsewhere in blockchain and multiomics sequencing technologies, global real GDP growth could accelerate from 3% annually since 1900 to 7%+

Summary: Bullish TSLA as a leading driver of autonomous mobility and humanoid robots enabling GDP acceleration.

@ARKInvest could not agree more. Thanks to Tesla’s leadership in autonomous mobility and humanoid robots, as well as breakthroughs elsewhere in blockchain and multiomics sequencing technologies, global real GDP growth could accelerate from 3% annually since 1900 to 7%+.

I have come to the perhaps obvious conclusion that accelerating GDP growth is essential.

@DOGE has and will do great work to postpone the day of bankruptcy of America, but the profligacy of government means that only radical improvements in productivity can save our country.


Summary: ARK's Tesla models are conservative even in the bear case; implied bullish on TSLA.

Given this backdrop, the assumptions in our #Tesla models are quite conservative. Our bear case assumes that $TSLA loses two-thirds of its global #EV market share and in our bull case it loses one-third of its market share.

The EV market has grown over 11X since 2013 and Tesla has pretty much maintained its market share. https://t.co/W5ErUKSxr1


Summary: Bullish TSLA: China is the biggest autonomous EV market and Tesla is among the leading innovators there.

.@elonmusk expressed gratitude to China during $TSLA’s earnings call this evening, rightly so. China will be the largest market for autonomous electric vehicles, and #Tesla seems to be among the innovators leading the charge, so to speak.

2. Chen Jie, Shanghai Lingang Development & Construction Mgt Committee: In order to speed up the @Tesla Shanghai GF3 construction, the Shanghai Lingang Gov changed the construction approval. Normal approval takes 15 months & #Tesla project only took 5 months.

$TSLA #TeslaChina https://t.co/XCVICpEdel


Summary: Network congestion is a buy signal for Bitcoin, analogous to early AOL traffic jams.

In early days of the internet, AOL crashed in a traffic jam. Investors sold, but it was a buy signal! Call for bitcoin community action! https://t.co/U2ZDt7zYNY

Bitcoin Grinds to a Halt as 200,000 Transactions Get Stuck https://t.co/yNrjJP9Wr2 https://t.co/xZO5og2JDF


I do not understand why investors are voting against Elon's pay package when they and their clients would benefit enormously if he and his incredible team meet such high goals.

Summary: Cathie Wood bullish TSLA; argues investors benefit enormously if Musk's team meets high goals, endorsing the pay package and long-term upside.

I do not understand why investors are voting against Elon’s pay package when they and their clients would benefit enormously if he and his incredible team meet such high goals. $TSLA

Elon Musk is the only person I trust and want to hold a significant influence at @Tesla

Elon Musk was the primary reason I invested in $TSLA seven years and ~ 2,000% ago — Elon has not once let me down and I look forward with great enthusiasm to the next seven years of stellar https://t.co/XbNlHkhVWD


Summary: Bearish S&P500 vs innovation stocks; S&P lags as innovation accelerates, implying rotation into growth/innovation names.

Same is true of #S&P500 relative to #innovation stocks.  The  S&P looks backwards as innovation changes the world at an accelerated rate! https://t.co/EnYqLUz3AL

S&P 500’s performance vs a diverse group of markets shows increasing signs of breaking-down #WILTW https://t.co/UG0eJwqi4c


Same is true of #S&P500 relative to #innovation stocks

Innovation stocks; ARKK is ARK Innovation ETF proxy


Summary: Bullish Amazon; expects revenue growth to accelerate beyond 29% to absorb massive headcount expansion.

So, either its productivity will collapse, or its revenue growth rate will accelerate from 29%.  My bet is on the latter. https://t.co/PxXtq3Ig56

Amazon, which currently employs 180K full-time workers in US, says it will create an additional 100K full-time jobs by mid-2018 @FT


Summary: Bullish US equities; climbing wall of worry signals continuation of the strong bull market.

Stocks are continuing to climb the wall of worry...suggesting a continuation of this strong bull market. @larry_kudlow https://t.co/DFMW8iyLWF

Radio @LarryKudlowShow : Stocks make new highs after @realDonaldTrump pulls out of Paris. Despite soft jobs. @jimiuorio #michaelcuggino


If shareholders renege on Elon's pay package after 73% voted for it in 2018, the public equity market will lose access to one of the most innovative companies in the world, depriving retail investors

Summary: ARK bullish TSLA: Musk's pay package aligns incentives for 5+ more years, rejecting it would deprive investors of one of the world's most innovative companies.

I’d argue that no other executive is as aligned with shareholders as @elonmusk, who committed to no salary, no bonus, no stock comp FOR 10 YEARS, unless he created tremendous value for @Tesla shareholders.

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Moreover, Musk will not be able to cash in on his options until 5 years after exercising them. Based on this pay package, Elon has worked without compensation since 2018, and IMPORTANTLY current shareholders will benefit from another 5+ years of Elon at the helm.

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What were the odds that Musk would hit the goals in his comp package? Although @TashaARK and @skorusARK published our model in 2018 showing that, with brilliant execution, the targets were possible, most analysts, auto manufacturers, and media thought they were laughable.

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In fact, in 2018 and 2019, when Tesla was scaling the Model 3 in what Elon described as “production hell”, analysts and media pundits peppered their narratives with the word ‘bankruptcy’. Indeed, Morgan Stanley dropped its bear price target to ~$1 on a split-adjusted basis.

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Instead, $TSLA shot up to ~$414 as Tesla hit the milestones in Musk’s pay package: compounding revenues at a 49% annual growth rate, adj-EBITDA 142%, and market cap 91% from Q1’18 to Q2’22. Even after soaring interest rates and a Chinese price war, $TSLA is still at $179.

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Now, what about the $56 billion package? As Tesla noted, the accounting fair value of the award in 2018 was $2.3 billion. The size of the award grew in proportion to the value that Tesla created for shareholders.

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For perspective, GM and Ford each spent $4 billion on ads in just one year, 2018. Tesla paid nothing for advertising in any year from 2018 until recently.

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Elon is not the sole winner: all long-term shareholders have benefited. Moreover, Board members probably considered that Elon would work for no comp over 5-10 years if he failed.

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But, Elon did not fail. He succeeded spectacularly and should be rewarded accordingly. If shareholders renege on Elon’s pay package after 73% voted for it in 2018, the public equity market will lose access to one of the most innovative companies in the world, depriving retail investors.

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How can shareholders renege on his pay package AFTER Elon and shareholders already have taken and overcome the risks associated with Tesla’s rise to producing the top selling car in the world? Unconscionably!

(Disclaimer: An investment in Tesla is not necessarily representative of the composition or performance of any investment strategies managed by ARK Invest.)


Summary: Bullish TSLA: battery tech lead of 3-4 years over rivals may widen further on manufacturing breakthroughs.

Thank you for this detailed and thoughtful analysis! @ARKInvest is debating whether these advancements will keep Tesla on pace with Wright’s Law: an 18% decline in the cost of EV’s battery pack systems for every cumulative doubling in EV demand, or

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Are they more fundamental breakthroughs? Would a 90%+ decline in each of the three important variables - assembly line labor costs, cell cost saving per unit of energy, and factory floor space - change the slope of the line, accelerating the decline in costs from 18%?

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According to @skorusARK research, other companies focused on EVs are three to four years behind $TSLA in battery technology already. The question is whether these breakthroughs will help #Tesla pull away even faster.


Summary: Bullish CRM ahead of DreamForce blockchain announcements; Cathie Wood signals attention/interest in the name.

When @Benioff at $CRM puts his mind to something, I pay attention.  Looking forward to exciting #BlockchainTechnology announcements at https://t.co/68LMYgWAl0’s DreamForce convention in September! https://t.co/UkFQajnI9s

Salesforce is working on a blockchain product https://t.co/OSIkRoxdpo by @ron_miller https://t.co/FkBEMtYly9


Summary: Bitcoin gaining marginal adoption is what drives markets; implied bullish.

#Bitcoin is winning at the margin.  At the margin is all important in making markets. https://t.co/Uw54wfmG6E

The bar is pretty low to compare with Bieber but love that #Bitcoin is passing the masses. Via @sytaylor https://t.co/kDB222Ss16


Summary: Bullish TSLA: hardware as distribution channel for high-margin recurring software via autonomous mobility.

Tesla should become a prime example as autonomous mobility takes off.

Low margin but high quality hardware has become a distribution channel for high margin recurring software.

Similar to the old model of Kuerigs & K-Pods, razors & razor blades, etc.


Summary: Bullish TSLA on autonomous ride-hailing network economics enabling owner cash flows of $10K+/year.

Hopefully, enterprising people will be able to put $5,000 down for a Model 3, work the balance of the cost off by driving for a $TSLA ride-hailing network, and enjoy a $10,000++ in free cash flow per year once the network goes #autonomous. Entrepreneurial America at its best!

While this is just on paper, it is illustrative of what could happen if/when Tesla reaches full autonomous capability.

Fleet operators who will maximize autonomous vehicle utilization could go around to existing owners offering far more than the vehicles originally cost. https://t.co/bVTxEFEnz9


Summary: Bull market intact and gaining momentum; low intraday volatility seen as climbing the wall of worry.

INDU = Dow Jones Industrial Average; DIA is ETF proxy

Five of the top 10 week's without a 1% intraday move in $INDU have taken place in the last two years.  Climbing the "wall of worry", this bull market is intact and gathering momentum. https://t.co/p9hJuSE4P8

Dow completes another week without a 1% intraday move, extending the longest streak in history to 65 trading days. https://t.co/qRYYxc908e


Summary: Bullish DASH: AI adoption could cut costs, drop prices, and drive surprising revenue/earnings growth.

structural marker; pre-classified as canonical yfinance ticker

According to @ARKInvest's research since 2014, AI is likely to be the most disruptive innovation in history. As @GrousARK writes here, companies harnessing AI aggressively--like $DASH--could lower their costs, drop prices, and stimulate surprising growth in revenues and earnings.

@Citrini7 The DoorDash example is a silly one in an otherwise extremely great piece.

“8) The agents making the purchasing decisions for the consumer use whichever marketplace offers the lowest price. Period, end of story.”

That sounds clean in theory. It is far messier in reality.

We


equity valuations will not succumb to last year's fears

Summary: Bullish US equities: discounting lower rates ahead, valuations will not repeat last year's selloff.

After the bear market last year, perhaps equities are beginning to discount much lower interest rates. Pointing to lower real growth and inflation, the fixed income market seems to be ahead of the Fed, suggesting that equity valuations will not succumb to last year’s fears.

The S&P500 rally is blinding investors to the dangers of tightening lending standards

It’s a major economic warning signal

A thread 🧵 https://t.co/rhqZfgt6Am


Summary: Bullish Bitcoin as prime beneficiary of Latin American currency contagion spreading from Venezuela to Argentina and Brazil.

Venezuela's problems have been contagious, with Argentina and now Brazil capitulating. The contagion will accelerate now that #cryptoassts are an effective hedge. The largest crypto asset, #bitcoin, will be a prime beneficiary. https://t.co/wc37JH3qBK

Impact for Bitcoin if Venezuela fully bitcoin-ized (ie it became the de facto unit of account) at the end of this blow-off:

M2 velocity of 2 with $300b in GDP after the dust settles:
~$150 billion in incremental network value

Bitcoin network value today:
$130 billion

🤔


Summary: Bullish on AMZN becoming a fintech force, citing AmazonGo and $1B in small loans as evidence of growing financial services momentum.

Yes!  #AmazonGo is a good case in point. And, I didn't know that $AMZN has made $1billion in small loans in the past year. https://t.co/2ChspPxCOS

Will Amazon become a force in fintech? https://t.co/SIyaV4PtCT by @Katie_Roof


Summary: Endorses Bitcoin as the future of money via Venezuela use-case; implicitly bullish.

#bitcoin "roars...for it is the voice of the people," people who want to feed their families. https://t.co/rwhsQMeuhD

Opinion: Venezuela Proves Bitcoin is the Future of Money https://t.co/FKIrs7bPZk https://t.co/m47VbQwNso


Summary: Bullish TSLA: Model 3 ramp will drive dramatic global share gains in Q3'18 and beyond as ICE car sales fall.

#Tesla's sales growth during 1H'18 will look sluggish compared to what it is likely to report for Q3'18, thanks to the ramp in the #Model3.  $TSLA's global share is likely to increase dramatically in the short-term.

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The more important share gain for #Tesla will be relative to all cars, whether gas-powered or electric.  As $TSLA's car sales take off, ICE car sales are falling globally.  Last week, #Volkswagen reported a 40% drop in European sales for September.


Summary: Endorses Netflix displacing Pay TV on cost per hour; bullish streaming, bearish legacy Pay TV.

Netflix is five times cheaper than Pay TV on an hourly basis:
Pay TV: $0.73/hour
Netflix: $0.15/hour https://t.co/IEMP3mm2sb


Summary: ARK bullish on ILMN, NVTA, VCYT, FM as the companies that will transform healthcare with data/science, analogous to Google/FB/Twitter in advertising.

ARK believes health care today is worse than advertising 20 years ago: CMO's knew that half of their ads worked but didn't know which half. https://t.co/FrfRZZ05cT

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With science and info, $ILMN, $NVTA, $VCYT, $FM will take the guesswork out of #healthcare, like $GOOG, $FB, and $TWTR did for advertising.


Summary: Bullish TSLA on autonomous taxi network opportunity being underappreciated by the market.

No questions about this underappreciated opportunity for $TSLA until the end of the Q&A during the earnings call...! https://t.co/nQmaw9uJVs

.@ARKInvest's Tasha Keeney: "We think that $TSLA could launch an autonomous taxi network in the next two years." #CheddarLIVE https://t.co/CSJbwkZHH1


$TSLA's #autonomous strategy is "everywhere". To feed its AI machine, #Tesla has collected roughly 10 billion miles of data over the air from its customers cars.

Summary: Bullish TSLA: autonomous data advantage (10B miles) vastly exceeds rivals, endorsing Tesla's AI/self-driving strategy.

$TSLA’s #autonomous strategy is “everywhere”.  To feed its AI machine, #Tesla has collected roughly 10 billion miles of data over the air from its customers cars.  $GOOG, another leader in the space, has collected 8 million miles (that’s million, not billion!) from its pilot cars

$TSLA #autonomous program is certainly less public because of the way it tests its tech (shadow mode in customer cars vs. small fleets of test cars like GM). That doesn't mean its "nowhere".  https://t.co/bp6w1H1ve2


Check out Tempus's results, reported today

Summary: Bullish Tempus AI as a prime beneficiary of AI in healthcare + FDA deregulation tailwinds.

According to @ARKInvest’s research, the most profound application of #AI will be in health care. Deregulation is accelerating this transformation in healthcare. Check out Tempus’s results, reported today.

The FDA just made one of the most significant shifts in its evidentiary standards in decades—and it feels like a lot of people have slept on the news!

The FDA will now default to ONE pivotal trial for drug approval, not two.

The science of evaluating whether a drug works has


Summary: Long TSLA, PLTR, COIN, SHOP as innovation leaders set to displace old-world benchmark constituents over years ahead.

In our view, $TSLA, $PLTR, $COIN, and $SHOP are at the tip of the spear as technologically-enabled innovation disrupts and displaces the old world in equity benchmarks. Benchmarks are likely to chase innovation at an accelerated rate in the years ahead.

We published a whitepaper with Coinbase in January 2017, 8 months before they raised their series D round at a $1.6 billion valuation. We admired the company's approach to onboarding new users to the crypto economy -> leaning into innovation with high product velocity while


industry='Financial Data & Stock Exchanges'


Summary: Endorses bitcoin's strongest-fundamentals thesis as a contrarian long.

Almost a contrarian idea these days, Chris @ARKblockchain: #bitcoin has the strongest fundamentals! https://t.co/9z4UzW59kv

Talking #bitcoin strategy and analysis with @ARKblockchain at #consensus2017. Japan is leading, bitcoin has the strongest fundamentals. https://t.co/NtkcpHPRew


equity markets will be the biggest beneficiaries of President Trump's policies

Summary: Author argues Trump policies will drive a multi-year equity market boom, analogous to Reagan-era bull market.

I served as an economist to Jennison Associates during those years, and I remember them well. During the early years of the Reagan Administration, Fed Chairman Volcker hiked the Fed funds rate from 10% to 20%, throwing the economy into back to back recessions.Starting in 1983,…

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President Reagan’s policies jump-started 15-20 of the best years in financial markets history. Both equities and bonds boomed. From much lower interest rates today, in our view, equity markets will be the biggest beneficiaries of President Trump’s policies.


Summary: Dismisses bearish EOY 2020 thesis as a classic wall of worry; bullish on equities continuing higher.

Terrific wall of worry for the continuation of an #equity #bullmarket.

By EOY 2020:

1. Stock market vol stays high, real returns anemic
2. Credit markets roll over with increasing defaults
3. Risk premiums go up
4. Investors capitulate
5. Capital tightens with more “sitting on sidelines”
6. Venture downrounds, recaps spike
7. Valuations reset


Summary: ARK/Cathie Wood disagrees with Nasdaq topping thesis; bull market broadening to growth and value.

#ARK doesn't think so.  The #bullmarket in #equities broadened to include value, and growth, beyond just defensive & yield-oriented strats. https://t.co/LBpG67Va1S

Is the Nasdaq Topping Out? https://t.co/sviA9b6ytf


Tesla: disruptive innovation at its best. Demand problem? I don't think so.

Summary: Cathie Wood endorses Tesla's demand strength, dismissing concerns; bullish stance.

#Tesla: disruptive innovation at its best.  Demand problem?  I don’t think so.

Looks like US luxury auto sales were up in June, thanks to Tesla. $TSLA June US sales up 156% YOY, Porsche +6%, BMW +4%, Mercedes +1%, and every other luxury automaker's sales decreased. Tesla's volumes account for nearly all of the category's gains. Demand? ✔.  (source: Wards)


Summary: Bullish BTC; dismisses El-Erian's skepticism as part of a 'wall of worry' Bitcoin is climbing.

@elerianm still doesn't get it.  Good news for the massive wall of worry that #bitcoin is scaling. https://t.co/PkZfNu5EgB

El-Erian: Bitcoin isn't a fraud, but it's not for long-term investors, either https://t.co/pzwQALTLUT


Summary: First renewed attention to IBM in 20 years, impressed by Watson for Oncology; implied bullish interest.

@ARKwebx0 @jwan584 are impressed by #Watson for Oncology, the first time this portfolio manager has paid attention to $IBM in 20 years! https://t.co/0V7BI0nagX

IBM wants to bring machine learning to the mainframe | #MachineLearning #IBM #RT https://t.co/vOikF0oWCW https://t.co/UbNJqDQqxG