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☆ Matthew Tuttle got the financial world buzzing with ETFs that short everything Cathie Wood's ARK and Jim Cramer buy. He told us the next big ideas on his radar.
▼ + stars: | 2023-04-11 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

In late 2021 Matthew Tuttle launched a fund that bets against the ARK Innovation ETF. A month ago he started a new ETF that shorts stocks picked by Jim Cramer of "Mad Money." Tuttle, the CEO and investment chief of Tuttle Capital Management, is starting to get a lot of requests for "anti"-ETFs. When shorting big name investors makes senseIt's easy to assume Tuttle is motivated by personal or professional dislike for Wood and Cramer. While he's considered creating an anti-fintwit ETF, Tuttle is still positive on Fintwit itself.

☆ First came bank failures. Now comes the House hearing
▼ + stars: | 2023-03-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Federal regulators are being called to testify before the House Financial Services Committee on Tuesday about the collapse of Silicon Valley Bank and Signature Bank. What lawmakers are saying: Elected officials want a review of what happened at Silicon Valley Bank and Signature Bank earlier this month, as well as stricter regulations to prevent it from happening again. Regulators on March 12, just days after SVB collapsed, announced a guarantee of all deposits at the bank and Signature Bank. What to expect: It’s unclear what will come of the hearings on SVB and Signature Bank. Wednesday: The House Financial Services Committee’s hearing on the banking crisis continues for a second day.

☆ Banks aren’t out of the woods yet and neither is the economy. Here’s why
▼ + stars: | 2023-03-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Markets seesawed severely this week when two of the US economy’s most prominent leaders gave seemingly contradictory statements on the health of the banking sector. But the evolving banking crisis makes it unclear if the central bank’s best-laid plans will pan out. The tumult in the banking sector is an outcome of the central bank’s fight against inflation, says José Torres, senior economist at Interactive Brokers and former economist at the FDIC. And while containing the banking turmoil will be important for markets and the economy, it’s only one part of a complex equation. To be sure, it’s unclear how the banking sector will hold up, especially as a slide in shares of Deutsche Bank on Friday adds to global concerns.

☆ Betting against Jim Cramer just became a lot easier with the launch of a new ETF that shorts the TV host's stock picks
▼ + stars: | 2023-03-02 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

"Mad Money" host Jim Cramer makes a lot of stock market calls, and not all of them pan out. The Inverse Cramer ETF bets against the financial pundit, by shorting stocks he's bullish on. The product is the handiwork of the money manager known for shorting Cathie Wood's stock picks. The Inverse Cramer ETF (SJIM) shorts equities the well-known financial pundit is bullish on. The Inverse Cramer ETF is an actively managed portfolio that carries an equally-weighted 20-50 names, Tuttle told Bloomberg, with the product having an expense ratio of 1.2%.

☆ Retail investors flock to small-cap AI firms as Big Tech battles for share
▼ + stars: | 2023-02-07 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Retail investors are piling into small-cap firms that employ artificial intelligence amid intensifying competition between tech titans Google parent Alphabet and Microsoft to secure leadership in the next big driver of growth. The $3-billion AI software firm C3.ai was the fifth most actively traded on Fidelity's platform for small investors on Monday, while drawing record daily retail inflows worth $31.4 million, as per Vanda Research. "Small-cap firms have AI as a much larger part of their business than the larger ones," said Matthew Tuttle, chief executive officer of Tuttle Capital Management on the reason behind retail investors' focus on the smaller firms. SoundHound AI (SOUN.O), which offers a voice AI platform services, and Thailand's security firm Guardforce AI (GFAI.O) have more than doubled so far this year, while analytics firm BigBear.ai gained nine-fold in value. Google-owner Alphabet Inc (GOOGL.O) on Monday said it would launch a chatbot service Bard and more artificial intelligence for its search engine as well as developers.

Investors have urged Musk to step down as Twitter CEO and punished Tesla stock, which is down nearly 60% this year and hit a fresh two-year low on Monday. On a Twitter poll from Musk on Sunday asking whether he should step down as Twitter CEO, 57.5% of 17.5 million people voted "yes." Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management and a big Tesla bull, said last week that he would run for Tesla board and had notified Tesla. Leo KoGuan, a major individual Tesla shareholder, wrote on Twitter earlier that Musk had "abandoned Tesla and Tesla has no working CEO." "The whole situation is just weird, and weird is being kind," said Matthew Tuttle, CEO of Tuttle Capital Management.

☆ Elon Musk Twitter poll shows majority want him to step down as chief
▼ + stars: | 2022-12-19 | by ( Nivedita Balu | ) www.reuters.com time to read: +4 min

Dec 19 (Reuters) - Twitter users voted in a poll for Elon Musk to step down as chief executive of the social media platform, in a backlash against the billionaire less than two months after he took over. The poll results capped a whirlwind of actions over the past few days, including the suspension of journalists which drew condemnation from news organizations, advocacy groups and officials across Europe. The sudden banning of accounts that promoted rival social media platforms such as Facebook sparked retaliation even among long-time supporters. "THERE IS NO SUCCESSOR"Replying to one Twitter user's comment on a possible change in CEO, Musk said on Sunday "There is no successor". "Elon" and "CEO of Twitter" were among the trending topics on the social media platform on Monday.

CNN —A former executive at Donald Trump’s media company claims the former President retaliated against a board member who refused to give Melania Trump shares of the company, according to a report from The Washington Post. Wilkerson told the Post that Litinsky believes his ouster was retribution for his failure to cede his shares to Melania Trump. Wilkerson told the Post that Trump refused to put any of his own money into the company despite demanding to own 90% of its shares. A liquidation would have also threatened the additional $1 billion the Trump media company has raised. Digital World shares fell 8% on Monday to $16.11, leaving them down nearly 70% so far this year.

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