Biz News

Cathie Wood’s ARK Investment Management LLC is now focusing on shares of largely unprofitable companies. 

Recently, Wood’s ARK Innovation bought more than $400 million of shares from companies such as Roblox Corp. (NYSE: RBLX), Block Inc. (NYSE: SQ), and Robinhood Markets Inc (NASDAQ: HOOD).

Shares of these companies are down at least 25% over the first six weeks of the year. 

However, Wood says that the companies dealing with digital payments, video gaming, trading, and other industries have the potential to perform better. 

Wood’s flagship ARK Innovation ETF (ARCA: ARKK) has seen a significant decline in January, dropping back to a level last seen in mid-2020. 

The ARK Innovation ETF is down 24% this year, matching its decline in 2021.

ARK funds have experienced more than $8 billion in net outflows over the last seven months, more than any other ETF managers over the same period.

Also Read: Cathie

Devon Energy Corp (NYSE:DVN) has been a dominant force in the production of oil, natural gas and natural gas liquids in the United States, and over the past year, produced strong returns for investors.

Since February 2021, Dillard’s stock’s 1-year return has outperformed several of the world’s most popular cryptocurrencies: Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Litecoin (CRYPTO: LTC) and Dogecoin (CRYPTO: DOGE).

Devon Energy, an independent energy firm, primarily engages in the exploration, development and production of oil, natural gas and natural gas liquids in the United States. 

The firm operates approximately 3,942 gross wells. Devon Energy was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

Here’s how the returns break down from February 2021 to present: 

• Bitcoin is down from $47,431.20 to $42,704.50 for a return of -9.97%

• Ethereum is up from $1,844.78 to $2,912.78 for a return of 57.90%

• Litecoin is down from $197.23 to

Activist investor Blackwells Capital is calling on Peloton Interactive Inc (NASDAQ: PTON) to seek a buyout rather than restructure its struggling business internally.

Peloton shares are down 76.2% in the last year as the company has struggled to find post-pandemic growth. Earlier this week, Peloton CEO John Foley stepped down for the position after Blackwells called for his ouster in January.

Related Link: After Huge Sell-Offs, Have Robinhood And Peloton Become Buyout Targets?

Peloton’s Problems: In a new presentation, Blackwells outlines the case for a Peloton buyout. Blackwells argues Peloton’s stressed balance sheet, ongoing cash burn and lack of credible management makes a turnaround difficult.

“It will take years of operational restructuring, organizational redevelopment and positive results for the company to regain investor confidence and multiple expansion,” according to Blackwells. 

Blackwells argued Peloton’s operational failures have de-rated the stock from a high-growth SaaS valuation to a low-multiple hardware valuation.

Potential

What happened: An Ethereum (CRYPTO: ETH) whale sent $40,923,829 worth of Ethereum off Binance.

The ETH address associated with this transaction has been identified as:

0x96198f19dfaca25a6ee7f52ea79efacf573dbec1

Why it matters: Whales typically send cryptocurrency from exchanges when planning to hold their investments for an extended period of time. Storing large amounts of money on an exchange presents an additional risk of theft, as exchange wallets are the most sought-after target for cryptocurrency hackers.

Ethereum whales that run their own validator nodes (costing 32 ETH each) must send their Ether to the Ethereum 2.0 beacon chain, which is then locked up until the launch of Ethereum 2.0 in 2022.

According to Glassnode, only 12.29% of the total supply remains liquid across all centralized exchanges.

The removal of ETH from an exchange reduces potential sell side pressure, allowing the price of Ether to increase more easily.

See Also: Best Crypto Apps 2021 and

Microsoft Corporation MSFT has the attention of the trading community. Despite the recent chaos in the market, shares of Microsoft have remained in a narrow trading range.

This is unusual action.

Usually when the market is volatile, so is the stock of Microsoft. This could give insight into the future direction of the market.

See Also: This Is What Whales Are Betting On Microsoft

If Microsoft makes a decisive move higher or lower, there’s a chance other stocks follow. This could add momentum to either a new uptrend or downtrend.

A large number of Microsoft traders are on the sidelines now, but they may not be for much longer.

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