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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest CEO Cathie Wood: Tesla 'epitomizes the convergence among technologies' that we see todayArk Invest CEO and CIO Cathie Wood joins 'Squawk Box' to discuss Tesla's Q1 delivery numbers, the future of EV and autonomous driving, state of bitcoin, Reddit's IPO offering, and more.
Persons: Cathie Wood, Tesla Organizations: Ark Invest, EV Locations: bitcoin
Ark Invest CEO Cathie Wood is holding off buying shares of the recent IPO Reddit at current prices, despite a long-term belief in the company's artificial intelligence prospects. "We don't think it's a meme stock," Wood told CNBC's Andrew Ross Sorkin during a " Squawk Box " interview Wednesday. RDDT YTD mountain Reddit shares since going public To be sure, Wood bought Reddit on the offering but said she's avoiding purchasing more after its run-up. Reddit went public last month in the first initial public offering of a major social media company since Pinterest 's debut in 2019. Reddit's offering came amid a slow revival in the IPO market following a two-year dry spell.
Persons: Cathie Wood, Wood, CNBC's Andrew Ross Sorkin, Reddit Organizations: Twitter, New York Stock Exchange, Arm Holdings Locations: Reddit
But following more than a year of erratic behavior from Cathie Wood's flagship vehicle, the ARK Innovation Fund appears to be forming a basing pattern that could herald a breakout ahead. Bullish pattern developing However, the ETF deserves our attention from a technical perspective since it could be getting closer to breaking out of a two-year basing pattern. And as the chart shows, this has prompted a second bullish formation to be constructed – a big cup and handle pattern. If a breakout through the two-year base does occur, the odds suggest that it will get traders' attention once again. If nothing else, it's important to understand what you're investing in, especially a very active ETF like ARKK.
Persons: ARKK, That's, Price, Tesla, It's Organizations: Innovation, Google, VanEck Semiconductor, Coinbase Locations: ARKK
Three-Stock Lunch: Tesla, Merck, and RH
  + stars: | 2024-03-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Tesla, Merck, and RHJerry Castellini, Castle Ark Management president and CIO, joins 'Power Lunch' to discuss Castellini's investing take on three stocks: Tesla, Merck, and RH.
Persons: RH Jerry Castellini Organizations: Merck, Ark Management
(AP) — A report detailing the audit of a $19,000 lectern purchased for Arkansas Gov. Norman said the governor's office requested an extension for its “management response," which is included in reports issued by the Division of Legislative Audit, and that response is due Friday. Legislative Audit conducts more than 1,000 reviews of state agencies, school districts and local governments every year. Sanders’ office said it received the lectern in August. Sanders' office did not immediately respond to a request for comment Wednesday.
Persons: Sarah Huckabee Sanders, Roger Norman, Norman, Sanders, Sanders ’, Donald Trump, It's Organizations: Arkansas Gov, Wednesday, Division, Legislative Audit, Republican Party of Arkansas, Republican Locations: Virginia
Tesla is offering a free monthlong trial of its Full Self-Driving software. FSD adoption could significantly increase Tesla's profit margins and improve the software. Tesla CEO Elon Musk announced on Monday that the electric carmaker would offer its US customers a free trial of the driver-assist software starting this week. "All US cars that are capable of FSD will be enabled for a one month trial this week," Musk wrote on X. Advertisement"Almost no one actually realizes how well (supervised) FSD actually works," Musk wrote in the email.
Persons: Tesla, , Elon Musk, Musk, FSD, Brett Winton, Cathie Wood, I'm, I've Organizations: Service, Business, ARK Invest, Tesla, National, Traffic, Administration
Bitcoin investors shouldn't sell amid high volatility, Anthony Scaramucci said. He said clients have been dismayed by the crypto's big price swings. He said at the Bitcoin Investor Day conference that his advice to clients is to "act like you're dead." "So act like you're dead with your bitcoin and don't sell your bitcoin. That occurrence, industry experts say, could create a supply shock and ultimately push the price of bitcoin higher.
Persons: Anthony Scaramucci, , Anthony Pompliano, Scaramucci, Donald Trump, Charles Schwab, Bitcoin, Cathie Wood Organizations: Service, SkyBridge, Wall Street, White, Communications, Securities and Exchange, BlackRock, Fidelity, SEC
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBy 2030 AI software companies will need 'trillions of dollars' in AI chips: ARK chief futuristBrett Winton, ARK Invest chief futurist, joins 'Fast Money' to talk what's ahead for AI after another big GPU announcment from Nvidia.
Persons: Brett Winton Organizations: ARK Invest, Nvidia
There were exactly 69 dogs onboard, all from his shelter in the West Bank. Then came Jimmy, Carlos, Farouk, Zoe, all of whom Mr. Abu-Ghazalah had cared for at Daily Hugz, the rescue facility he set up in Asira ash-Shamaliya, outside his hometown, Nablus. The dogs were mostly abandoned, many were feral and a number of them had lost legs after being hit by cars. The shelter had been “like paradise,” Mr. Abu-Ghazalah said. But in December, as conditions in the West Bank deteriorated amid the Israel-Hamas war, he decided he could no longer keep it running.
Persons: Ghazalah, Lucas, Jimmy, Carlos, Farouk, Zoe, Mr, Abu Organizations: Kennedy International Airport, West Bank, Daily, Society for, Animals International Locations: Maad, Nablus, West, Israel
Nvidia stock could triple if it follows Cisco's path during the dot-com bubble, Jeremy Siegel said. AdvertisementNvidia could triple in value to become the world's first $6 trillion-plus company if it follows Cisco's trajectory during the dot-com bubble, Jeremy Siegel said. It's now worth $2.3 trillion, propelling it past Amazon and Alphabet and leaving only Microsoft ($3.1 trillion) and Apple ($2.7 trillion) ahead. "There could be 2-3x more upside in Nvidia if it follows Cisco's valuation path to its peak," Siegel said. Advertisement"Now we emphatically do not have 1999-2000 levels of speculation in the markets or tech," Siegel said.
Persons: Jeremy Siegel, Wharton, , It's, Siegel, Wood Organizations: Apple, Microsoft, Service, Nvidia, Cisco, Federal Reserve Locations:
Walmart Wants to Teach Store Managers Compassion
  + stars: | 2024-03-12 | by ( Jordyn Holman | ) www.nytimes.com   time to read: 1 min
On a stormy afternoon in Bentonville, Ark., a Walmart regional manager recounted a story about a moment when his humanity came up short. He was 24-year-old store manager anxiously trying to get his workers to set up Halloween merchandise displays. Instead, the workers were gathered around the televisions in the electronics department. He didn’t fully understand what was happening until a worker tearfully laid into him, explaining that she had relatives in New York City. “I didn’t take a minute to survey the room to understand the ramifications of my words and my actions,” the former store manager, David Seymore, now a regional vice president at Walmart, told his listeners.
Persons: , David Seymore, Organizations: Walmart Locations: Bentonville, Ark, New York City
CNBC Daily Open: A mixed picture on U.S. jobs growth
  + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks retreatWall Street finished Friday's session lower as investors look ahead to key inflation data due out this week. Japan skirts technical recessionJapan avoided a technical recession as revised fourth-quarter data revealed the economy returned to growth. "My famous topless sports massage was all about showing our culture, to be honest, that we had such a flexible culture," the Malaysian businessman told CNBC.
Persons: Tony Fernandes, Tasha Keeney Organizations: Grand Central Market, CNBC, Wall, Nasdaq, Dow, Gross, AirAsia, Pfizer Locations: Los Angeles , California, U.S, Japan, Malaysian
CNBC Daily Open: Conflicting signals on U.S. jobs market
  + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China warns property developersChina's housing minister signaled real estate developers must go bankrupt if required and won't get a major bailout. Minister of Housing and Urban-Rural Development Ni Hong also warned that those who "harm the interests of the masses" will be punished. India's 'watershed' FTAIndia signed a 'watershed' $100 billion free trade deal that will remove most tariffs with four non-EU nations.
Persons: Hong, Piyush Goyal, Tony Fernandes, Tasha Keeney Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Housing, India, EU, Commerce, Industry, AirAsia Locations: Asia, Japan, China, Malaysian
Ark Invest — which has a particular focus on innovation — is invested in segments including autonomous vehicles, drones and robotics, energy storage, 3D printing, and space exploration through its Ark Autonomous Tech & Robotics ETF (ticker ARKQ). Autonomous cars: A $28 trillion opportunity Autonomous cars is one area related to AI that Keeney is "particularly excited about." "Autonomous cars are already driving in major cities today across the globe. Autonomous drones: A 'very hot topic' Beyond automakers, Keeney is looking to ride the autonomy wave through opportunities in drones. Keeney emphasized that drone technology can transcend military use cases and be applied across industries.
Persons: Tasha Keeney, CNBC's, Tesla, Keeney, Organizations: Ark Autonomous Tech, Robotics ETF, Invest, Defense, Security Solutions, Walmart, Google Locations: Mar
William Whitworth, who wrote revealing profiles in The New Yorker giving voice to his idiomatic subjects and polished the prose of some of the nation’s celebrated writers as its associate editor before transplanting that magazine’s painstaking standards to The Atlantic, where he was editor in chief for 20 years, died on Friday in Conway, Ark., near Little Rock. His daughter, Katherine Whitworth Stewart, announced the death. She said he was being treated after several falls and operations in a hospital. As a young college graduate, Mr. Whitworth forsook a promising career as a jazz trumpeter to do a different kind of improvisation as a journalist. He covered breaking news for The Arkansas Gazette and later for The New York Herald Tribune, where his colleagues eventually included some of the most exhilarating voices in American journalism, among them Dick Schaap, Jimmy Breslin and Tom Wolfe.
Persons: William Whitworth, Katherine Whitworth Stewart, Whitworth forsook, Dick Schaap, Jimmy Breslin, Tom Wolfe Organizations: Yorker, The Arkansas Gazette, The New York Herald Tribune Locations: Conway, Little Rock
Cathie Wood's outlook for Nvidia is slower growth, weaker demand, and fiercer competition. Wood has cut her exposure to Nvidia as she believes the market's hopes may be overblown. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementCathie Wood has sounded the alarm on Nvidia, warning its spectacular growth is likely to slow, and comparing its stock surge to Cisco during the dot-com bubble. Indeed, Nvidia stock has soared almost 90% this year, boosting the company's market capitalization to more than $2 trillion.
Persons: Wood, , Cathie Wood, hasn't, Tesla, Jensen Huang, Sam Yeh Organizations: Nvidia, Ark, Service, Cisco, Ark Invest, Oracle, AMD, Getty, Apple Locations: AFP
Founded in 2022, Figure AI has developed a general-purpose robot, called Figure 01, that looks and moves like a human. Figure's ultimate aim is for Figure 01 to be able to perform "everyday tasks autonomously." Tesla is also trying to build a humanoid robot, called Optimus, while robotics company Boston Dynamics has developed several models. Norwegian humanoid robot startup 1X Technologies recently raised $100 million with backing from OpenAI. WATCH: Tesla CEO Musk said it's more important to develop humanoid robot than new cars
Persons: Jeff Bezos, Tesla, Goldman Sachs, Tom Andersson, Andersson, OpenAI, Goldman, they've, Musk Organizations: Nvidia, Microsoft, Innovation Fund, Robotics, Boston Dynamics, OpenAI, Goldman, STIQ Ltd, Intel, Ventures, Parkway Venture Capital Locations: Norwegian
Retail traders appear to be using a new tool during this huge rally for bitcoin — exchange-traded funds. The funds, which launched last month, have seen their trading volume surge this week as bitcoin continues to climb. That is well above its previous record high of roughly 43 million shares, which came on Tuesday. The highly active market around these funds is likely a sign that retail traders are using the ETFs to participate in the bitcoin rally. The trading volume is even more impressive when considering the price.
Persons: bitcoin Organizations: Fidelity, Bitcoin
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRepublic Services CEO Jon Vander Ark: We've moved from a waste company to a sustainability companyJon Vander Ark, Republic Services CEO, joins 'Squawk Box' to discuss the company's quarterly earnings results, better-than-expected revenue forecast, demand outlook for garbage collection and disposal, and more.
Persons: Jon Vander Ark, We've Organizations: Email Republic, Republic Services
Bitcoin prices have rebounded since 2023, recovering from steep declines in the couple of years before. On Tuesday, bitcoin prices reached a two-year high of over $56,000. Ark Invest's chief futurist, Brett Winton, believes that a "responsible allocation to innovation generally is really, really critical." On average, Ark Invest's research shows that the "optimal" allocation to maximize risk-adjusted returns — on a five-year time horizon — would be 4.8% on average since 2015. The breakdown of Ark Innovation ETF's tech investments is as follows: cryptocurrencies make up 6.9% of it, and digital wallets 8.8%, among other tech themes.
Persons: Ark, Brett Winton, CNBC's, Winton, , bitcoin's Organizations: Invest, Innovation, Ark Invest Locations: bitcoin, U.S, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt will be 'something of a surprise' if incumbent companies emerge as winners in AI: ARK InvestBrett Winton, ARK Invest Chief Futurist, expects a new platform to emerge as the world enters a "new operating system era", adding that it will likely accrue most of the gains when it comes to AI.
Persons: Invest Brett Winton Organizations: Invest, ARK Invest
CEO Jensen Huang assured analysts that the company is distributing chips "fairly." Nvidia's fourth-quarter revenue surpassed Wall Street expectations, reaching $22.1 billion. AdvertisementHot chip stock Nvidia has a problem — a good one. The company is seeing so much demand for its AI chips that cofounder and CEO Jensen Huang had to give assurance that the company is allocating them "fairly." Nothing is more difficult than to have anything sit around," said Huang, saying Nvidia wants to avoid "allocating unnecessarily."
Persons: Jensen Huang, , Huang, OpenAI's ChatGPT, Cathie Wood Organizations: Nvidia, Service, Street
In today’s big story, we’re looking at the chances of there being no rate cuts this year, and how the markets would react. What's on deck:This story is available exclusively to Business Insider subscribers. The big storyCuts are canceledAaron Schwartz/Xinhua via Getty ImagesDon't count your chickens before they hatch and don't price in your rate cuts before they materialize. Last December, Fed Chair Jerome Powell signaled that three cuts were on the table for 2024, which he reiterated earlier this month. AdvertisementBonds could struggle, though, with further delays on rate cuts raising the risk that debt markets suffer another meltdown like they did last fall.
Persons: , Mark Zuckerberg, Aaron Schwartz, , won’t, Jerome Powell, Phil Rosen, There's, BI’s Yuheng Zhan, NYCB’s, Ark's Cathie Wood, Paul Judge, Tessa Flippin, Claude Grunitzky, Gayle Jennings O'Byrne, Black VCs, Masayoshi Son, OpenAI’s, Jenny Chang, Rodriguez, Vladimir Putin, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, UFC, Business, Xinhua, Getty, Federal, Paramount, Fed, Big Tech, JPMorgan Private Bank, Discover, Discover Financial, Nvidia, Opportunity, Equity Alliance, Wocstar Fund, Opportunity Fund, Equity Alliance Wocstar, Google, Walmart, Pandora, Home Locations: Japan, Ukraine, Moscow, Russia, Fox, New York, London, Chicago
Cathie Wood says Nvidia "has become a check-the-box stock." Wood says she's been selling the stock because "expectations could be getting ahead of themselves." Ark Invest's Cathie Wood says she's been selling Nvidia stock because she thinks it's become overvalued. "It has become a check-the-box stock," Wood said in a podcast with The Wall Street Journal's Dion Rabouin that aired Sunday. Wood's investment fund sold over $4.5 million worth of Nvidia stock this year.
Persons: Cathie Wood, Wood, she's, Alphabet's, it's, Dion Rabouin, Rabouin, Kathleen Brooks Organizations: Nvidia, BI
Opinion What Sourdough Taught Me, in the Pandemic and BeyondInside one tablespoon of active sourdough starter, the fermented culture made of flour and water used for thousands of years to leaven bread, there are billions of microorganisms. How to create a sourdough starter Repeat until bubbling with life. Add flour, water and salt. Add flour, water and salt. To avoid this exponential growth, a portion of sourdough starter is traditionally discarded at every feeding, which means there’s plenty to go around.
Persons: , , Seamus Blackley, . Kan, they’ve, , Caesar, cura, Jesus, John, we’ve, Thomas White, Gazans, Alice Spearman, Germany Chiara G, Netherlands Anna Celda Czechia Veronika Moravcikova, Allie Wist, we’re Organizations: U.S, International New York, Penn, Ala . Iowa Miss, Okla . Texas Colo, Okla . Texas Colo . Puerto Rico Wyo, Utah Idaho Mexico Ariz, Great, Netherlands France Belgium Denmark, Poland Latvia Slovenia, Poland Latvia Slovenia Italy Croatia, . Connecticut Massachusetts Rhode Island New Jersey New Hampshire Vermont Pennsylvania, . Connecticut Massachusetts Rhode Island New Jersey New Hampshire Vermont Pennsylvania Maryland Delaware D.C, Maine Virginia, Maine Virginia West Virginia Ohio, Maine Virginia West Virginia Ohio North Carolina Michigan Indiana South, Maine Virginia West Virginia Ohio North Carolina Michigan Indiana South Carolina Kentucky Tennessee Wisconsin Illinois, Alabama Iowa Mississippi Minnesota Florida Arkansas, Canada Louisiana Nebraska Kansas Oklahoma, Canada Louisiana Nebraska Kansas Oklahoma Texas Colorado, Canada Louisiana Nebraska Kansas Oklahoma Texas Colorado Puerto Rico Wyoming, Portugal Spain, Supermarkets, United Nations, BBC, Alice Spearman Canada Locations: Barthelme, Conn, R.I . N.J, N.H . Vt, Md, Del, D.C, Maine Va, W.Va . Ohio N.C, Mich, Ind, S.C . Ky, Tenn, Wis, Ill, Ala . Iowa, Minn, Fla, Canada, Okla . Texas, Okla . Texas Colo . Puerto Rico, Mont, N.M, Utah Idaho Mexico, Ore, Calif, Iceland, Portugal Spain, Netherlands France Belgium, Netherlands France Belgium Denmark Luxembourg Sweden Germany Brazil Switzerland, Poland Latvia, Poland Latvia Slovenia Italy, Poland Latvia Slovenia Italy Croatia Hungary Bulgaria Greece Hawaii, Argentina, China Bhutan India South Africa, Malaysia Singapore, Australia, . Connecticut Massachusetts Rhode Island New Jersey New Hampshire Vermont, . Connecticut Massachusetts Rhode Island New Jersey New Hampshire Vermont Pennsylvania Maryland Delaware, Maine, Maine Virginia West Virginia, Maine Virginia West Virginia Ohio North Carolina, Maine Virginia West Virginia Ohio North Carolina Michigan Indiana South Carolina Kentucky Tennessee Wisconsin, Maine Virginia West Virginia Ohio North Carolina Michigan Indiana South Carolina Kentucky Tennessee Wisconsin Illinois Georgia, Alabama Iowa Mississippi Minnesota, Canada Louisiana Nebraska Kansas Oklahoma Texas, Canada Louisiana Nebraska Kansas Oklahoma Texas Colorado Puerto Rico, Canada Louisiana Nebraska Kansas Oklahoma Texas Colorado Puerto Rico Wyoming Montana New Mexico, Utah Idaho Mexico Arizona Nevada Washington Oregon California Iceland, Portugal, Portugal Spain France The Netherlands Belgium Denmark Luxembourg Sweden Germany Brazil Switzerland, China Bhutan India, Africa, Uruk, France, Tunisia, Egypt, Syria, Ukraine, Gaza, Germany, Netherlands
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