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TechCheck

Cathie Wood’s Latest Strategy, Underweight on Robinhood & Betting Against Innovation

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.566 Ratings

🗓️ 24 November 2021

⏱️ 43 minutes

🧾️ Download transcript

Summary

Our anchors kick off today’s show with Cathie Wood’s latest strategy that she says is like “Ark on steroids.” Then, Bespoke Investment Group Co-Founder Paul Hickey joins to discuss inflation, cloud, semiconductors and much more. Next, JP Morgan Analyst Ken Worthington is here to talk Robinhood with shares down nearly 20 percent in the last five sessions. Then, CNBC’s Leslie Picker is here to with the details on short interest at all-time lows. Next, we have Tuttle Capital Management CEO Matthew Tuttle to discuss his new ETF that is betting against Cathie Wood’s Ark Innovation Fund. And later, Nutanix CEO Rajiv Ramaswami joins to discuss the company’s latest earnings report. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

I'm John Fort. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

0:06.8

Happy Wednesday. Welcome to Tech Check. I'm John Fort with Carl Kingtonia and Deirdrebosa. Today,

0:11.9

tech has an attention span problem. We're going to tell you why historically low short interest is leaving few winners this week.

0:18.5

And then Kathy Wood explains her potential new investing strategy,

0:23.6

ARC on steroids.

0:25.6

Plus, meet the fund manager who's taking the other side of every one of the trades she makes.

0:31.6

That's coming up later in the hour.

0:33.6

And finally, pop the hood.

0:34.6

This stock is having serious trouble why shares of Robin Hood

0:38.3

are down nearly 30% in just the last month, Dee. Well, we start today's feed with what's

0:43.8

become a multi-day sell-off in tech stocks. The NASDAQ lower once again by about a quarter of 1%

0:49.1

as yields rise. The stock's hardest hit have been those smaller high multiple growth stocks.

0:54.1

We've been talking

0:54.5

about all week. Peloton, Crowdstrike, Octa, down double digits over the last week.

0:59.2

Arc Invest, Kathy Wood was on Squawk Box earlier this morning, defending her investments

1:03.3

and even touting a new strategy she's testing that she says is, quote, like Arc on steroids.

1:10.6

What we would be doing is shorting stocks that are in the big benchmarks.

1:16.8

And when we get into a risk off situation, what happens is portfolio managers and analysts

1:21.7

generally run back to those stocks, get closer to their benchmarks.

1:25.7

And they dump our stocks, which are either small parts of

1:29.2

benchmarks or not in benchmarks. Great opportunity for us, as we have experienced during these

1:33.9

last few days, to pick up on those stocks because it's simply a risk-off move to get closer to

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