Wood, who has a significant position in crypto exchange Coinbase Global, said in a webinar that the crypto industry “will be down one exchange and those that are left standing will be all the stronger for it.”
Shares of Coinbase fell nearly 14% in afternoon trading on Tuesday after Binance, the world’s largest cryptocurrency exchange, said that is has signed a nonbinding agreement to buy, a unit of major rival FTX, to help cover a “liquidity crunch” at the cryptocurrency exchange. Wood, who has been a prominent bullish investor in cyrptocurrencies such as bitcoin, again called the Federal Reserve’s aggressive pace of interest rate hikes a “monetary mistake” and said that “we think within 6 to 9 months we will see a significant downturn in inflation that will invite more talk of outright price deflation.”
Wood’s ARK Innovation ETF, which was the top-performing U.S. equity fund in 2020 during the so-called pandemic bubble, has fallen nearly 64% for the year to date as higher interest rates weigh on the unprofitable, speculative technology stocks in her portfolio.Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.
She has absolutely no clue. She’s trying to pump up her flailing stock price and failing. Not even going to read this garbage.
lol
Star stock pickers already sold at the top. Cathie is a multi-bag holder. Buy high sell low is her mantra.
globeinvestor Startinvestor should nobody call her. She is the worst. Will see the exact opposite of what she is saying.