Kicking Yourself for Missing Out on Bitcoin?

Don't worry. One expert is saying another coin has 20X the potential of bitcoin. And with cryptos heating up, it could be the perfect time to get in.

Oil = Monthly Income

Cathie Wood's ARK Innovation ETF Achieves 35% Gain In November, Its Best Month Since Inception

Piero Cingari
November 29, 2023

The ARK Innovation ETF (NYSE:ARKK), managed by renowned investor Cathie Wood, has posted remarkable gains in November, making it the fund’s best-performing month since its launch in 2014.

The ARK Innovation ETF surged by nearly 35% in November, surpassing its performance in January 2023 when it achieved a 27% gain. The second-largest fund managed by Wood, the ARK Fintech Innovation ETF (NYSE:ARKF) also showed a similar return as its bigger brother.

Year-to-date, Wood’s flagship fund has risen by 55%, outperforming the broader tech sector’s performance as tracked by the Invesco QQQ Trust (NASDAQ:QQQ).

Chart: ARK ETF Monthly Returns And Year-To-Date Performance Vs. QQQ

Despite these impressive gains, Wood’s largest fund remains 70% below its all-time highs reached in February 2021. In contrast, the Nasdaq 100 Index is only 4% below its record peak in 2022.

The outstanding performance of tech stocks in November was driven by the Federal Reserve’s decision to hold interest rates steady for the second consecutive meeting at the beginning of the month. Market participants widely interpreted this move as signaling the end of the tightening campaign.

As U.S. inflation dynamics continued to slow down — the latest data revealed a sharper-than-expected decline in the Consumer Price Index (CPI) for October — investors began increasing their bets on a wave of Fed rate cuts in 2024.

CME Group’s FedWatch tool, which assesses the market-implied probabilities of future fed funds rate movements, indicates an 80% chance of a rate cut as early as May 2024. Speculators are even assigning a 59% probability of five rate cuts by December 2024.

Innovation Fund’s November Performance

The ARK Innovation Fund experienced a substantial boost in its monthly performance, driven by several key stocks. The top contributor was Coinbase Global Inc (NASDAQ:COIN), which surged by nearly 80% and alone contributed almost 7 percentage points of returns to the ARK Fund.

This surge coincided with a cryptocurrency rally, with Bitcoin (CRYPTO: BTC) surging above $38,000.

Here are the top 10 contributors to the fund’s impressive November performance:

Security Name (Exchange: Ticker)SectorPriceWeight in ARK1-month stock returnReturn
Contribution
Coinbase Global, Inc. Financials126.7411.33%79.06%+6.86 percentage points
Roku, Inc. (NASDAQ:ROKU)Communication Services106.919.11%89.72%+5.91pp
Block, Inc. (NASDAQ:SQ)Financials64.435.99%61.38%+3.11pp
CRISPR Therapeutics AG (NASDAQ:CRSP)Health Care69.864.71%81.29%+2.88pp
UiPath Inc. (NYSE:PATH)Information Technology19.706.49%31.09%+2.15pp
Shopify Inc. (NYSE:SHOP)Information Technology73.633.51%58.62%+1.78pp
Tesla, Inc. (NASDAQ:TSLA)Consumer Discretionary246.118.02%58.62%+1.73pp
DraftKings Inc. (NASDAQ:DKNG)Consumer Discretionary38.133.68%43.51%+1.52pp
Twilio Inc. (NYSE:TWLO)Information Technology66.093.89%31.72%+1.28pp
Zoom Video Communications, Inc. (NASDAQ:ZM)Information Technology68.256.88%15.18%+1.24pp
Beam Therapeutics Inc. (NASDAQ:BEAM)Health Care28.962.32%56.55%+1.14pp

Read Also: Coinbase CEO Brian Armstrong On Binance’s Settlement: ‘Building A Company Offshore, Skirting Regulation, It’s Just Not Going To Work’

Photo: Courtesy Ark Invest

Continue Reading...

Popular

Colombia pauses buying Israeli weapons and president calls war in Gaza 'genocide'

BOGOTA, Colombia (AP) — Colombia’s President Gustavo Petro announced Thursday his government is suspending purchases of weapons from Israel after Palestinians say Israeli troops in Gaza, marking an escalation of tensions between both countries over the .

Clark's final regular-season home game to be among priciest tickets in women's college hoops history

IOWA CITY, Iowa (AP) — Caitlin Clark's at Iowa is likely to bring one of the priciest tickets in women's college basketball history.

Multimillionaire Investor: "Hands Down the Most Lucrative Discovery of My Entire Career" - Ad

Peabody Award-winning journalist Bill Tucker sat down with a reclusive multimillionaire trader... 858 miles OUTSIDE of Wall Street... to discuss a revolutionary new trading strategy that involves... One ticker... one trade... every week. The fast-hitting profit potential is extraordinary.

EPA to delay rules for some power plants until after November election

WASHINGTON (AP) — The Environmental Protection Agency said Thursday it is delaying planned rules to curb emissions from existing natural gas plants that release harmful air pollutants and contribute to global warming.

C3.Ai To Gain From Unprecedented AI Demand, Analyst Sees Over 30% Growth

C3.ai experiences significant growth potential driven by strong demand for AI solutions, with analysts projecting over 30% revenue growth.

His System Isolated Nvidia -- Here's His NEXT Buy - Ad

Marc Chaikin's stock-picking system isolated Nvidia before its massive bull run this year. Now, it just flashed "BUY" on a new AI company that no one is talking about yet. It's not a household name... but Marc predicts it could quickly double or triple from here.

Trump's Immunity Claim To Be Examined By Supreme Court: A Game Changer For 2024 Elections?

In a historic move, the U.S. Supreme Court has agreed to hear a case concerning former President Donald Trump’s claim of criminal immunity, a decision that could significantly impact his attempts to overturn the 2020 election loss.

Celsius Holdings CEO Sees 'Huge Runway Ahead' As Stock Soars To New Highs

Celsius shares are soaring to all-time highs Thursday following the company's quarterly results. Celsius CEO John Fieldly still sees plenty of runway ahead for the energy drink maker.

Turn Market Chaos Into Your No. 1 Advantage - Ad

Don't let market volatility erode your hard-earned savings. Our free gold guide shows you how to turn your 401k into a gold IRA and protect your retirement today.

Missouri House passes property tax cut aimed at offsetting surge in vehicle values

JEFFERSON CITY, Mo. (AP) — Missouri residents could see a roughly $138 million tax break under legislation passed Thursday by the House in an attempt to offset a recent surge in local tax collections caused by higher vehicle values.

New Trump Bombshell - Ad

The Freeport Society and Louis Navellier have just issued a shocking election prediction for 2024. I believe Donald J. Trump will go down as America's last Republican president. But NOT for the reasons you may think...

Stericycle Analysts Increase Their Forecasts After Q4 Results

Stericycle, Inc. (NASDAQ: SRCL) reported mixed fourth-quarter financial results on Wednesday.

Biden's Big Tax Grab (Protect Yourself ASAP) - Ad

Biden's proposed 2024 tax reforms could be a direct threat to your personal wealth and financial freedom. But one IRS Loophole offers protection and can even grow your wealth at the same time. All the details are in this free report.

Jim Cramer Tells Investors To 'Do The Homework' And Look Beyond Earnings Figures: '...Causing People To Make Snap Judgments'

CNBC's Jim Cramer has advised investors to look beyond the numbers in financial reports, saying that the current method of reporting is leading to false judgments.

This Trader Turned $2,708 Into $3.25 Million With Trump-Related MAGA Memecoin

Pseudonymous Erik Stevens, a self-proclaimed "eccentric multi-millionaire," updated his followers on achieving a "1,024X" on MAGA Memecoin (CRYPTO: TRUMP), the

Digital Dollar: Freedom or Financial Slavery? - Ad

Is a digital dollar really America's way to financial freedom? Or is it the start of a wave of financial servitude? Get the details on the potential risks of a digital dollar and what you can do to protect yourself. From privacy concerns to economic control, protect yourself with this free guide.

Beyond Meat, Viking Therapeutics, Novavax, Baidu, Tesla: Why These 5 Stocks Are On Investors' Radars Today

The U.S. indices were mixed with the S&P 500 rising by nearly 0.2% to 5,078.18 and the Dow Jones Industrial Average falling by 0.25% to 38,972.41.

Top 4 Health Care Stocks That Are Preparing To Pump This Month

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.

Bitcoin Gained 164% in 2023 but Crypto Millionaire Abandoned It for This - Ad

A certain crypto genius and millionaire has been praising Bitcoin since it was trading for $61. Even though it gained 164% last year, he's now recommending a different cryptocurrency. In fact, he's betting his own money on and buying it like crazy.

Mark Cuban Thinks Elon Musk's Grok Chatbot Is Right Leaning, While Google's Gemini Is Left Leaning: 'Can Big Tech Actually Field Generative AI'

Billionaire Mark Cuban suggests Elon Musk's xAI's Grok leans "right," while Google's Gemini tends "left," amidst a broader debate on AI models' biases and implications, fueled by concerns raised by Marc Andreessen about big tech's ability to develop generative AI products.

Gold: Now Legal Tender - Ad

Most Americans missed this big story, but 1 in 5 states have now made gold and silver coins legal tender. It's just one reason why so many predict gold will soon hit $5,000. And why you need to check out this $5 strategy for gold immediately.

Big-Time Bitcoin Bull Michael Saylor Encourages Followers To Keep Stacking Coins But 'Stay Humble'

Michael Saylor, CEO of MicroStrategy Inc. (NASDAQ:MSTR), posted a message on X, formerly Twitter, on Wednesday, encouraging Bitcoin (CRYPTO: BTC) holders to “Stay Humble. Stack Sats.”

Gold Explodes Past $2,000, Here's What's Next - Ad

After what feels like nearly a decade of disappointing returns, gold is entering a new bull market. You can get started today for just $5.

Top 4 Financial Stocks Which Could Rescue Your Portfolio This Quarter

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.

Wall Street's Most Accurate Analysts Say Hold These 3 Tech Stocks With Over 3% Dividend Yields

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Musk, Dalio and Cuban Are Loading Up on This One Coin - Ad

Mark Cuban proclaimed this coin "will dwarf Bitcoin." And Elon Musk made sure it was one of the only three coins he owns. It's called the Next Gen Coin... As this presentation explains, this coin has the ability to "power the rails of global finance"... a $100 trillion industry.

Phones are distracting students in class. More states are pressing schools to ban them

SAN FRANCISCO (AP) — In California, a high school teacher complains that students watch Netflix on their phones during class. In Maryland, a chemistry teacher says students use gambling apps to place bets during the school day.

MUST SEE By March 11: Beware Biden's Trojan Horse - Ad

It could usher in the most radical transformation of our money we've ever seen in America's history... trigger a surprise election outcome in the coming months... and fundamentally alter the value of your savings forever. One 24-year market veteran warns that most Americans simply aren't prepared for what's coming on March 11.

Cathie Wood's Ark Invest Offloads $6.9M Worth of Coinbase, Robinhood Shares Each Amid Searing Bitcoin Rally — Nvidia Stock Also Shed

On Monday, Cathie Wood-led Ark Invest adjusted its portfolio, notably selling shares of cryptocurrency-related companies such as Robinhood Markets Inc (NASDAQ:HOOD) and Coinbase Global Inc (NASDAQ:

Amazon, Royal Caribbean Cruises And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 0.2% on Thursday. Investors, meanwhile, focused on some notable insider trades.

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Tucker Carlson Fires Back After Jon Stewart's Pot Shot At Russian President Interview, Calls Comedian 'A Tool Of Regime'

Conservative commentator, Tucker Carlson accused comedian Jon Stewart of being "a tool of the regime" after Stewart criticized Carlson's interview with Russian President Vladimir Putin.

Boeing given 90 days by FAA to come up with a plan to improve safety and quality of manufacturing

The Federal Aviation Administration is giving Boeing 90 days to come up with a plan to fix quality problems and meet safety standards for building new planes.

Transform Your 401K with Gold (Free Guide) - Ad

Market volatility could wipe out your 401K overnight. But if you roll that over into a Gold IRA, you could actually grow your wealth instead. Download this free gold guide from America's #1 gold company to take control of your financial future in these uncertain times.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service