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2021-03-07

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ARK and Tesla "share weal and woe", and the high-valued group stocks in the US stock market were "slaughtered"

最近一段时间，随着美债收益率持续攀升，在去年走势惊人的成长股和科技股大幅调整。对利率上行以及对通胀预期的担忧，对科技成长类股票的估值极其不友好。在周五美国国债收益率一度上升至1.63%，周五美国科技

ARK and Tesla "share weal and woe", and the high-valued group stocks in the US stock market were "slaughtered"

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The U.S. Treasury Bond yield once rose to 1.63% on Friday, and the first U.S. technology stock on Friday<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The stock price once fell by more than 13%, down 32% from its January high. The stock price fell below the $600 mark for the first time in three months, and the market value of $263 billion was wiped out.</p><p>Two other technology stocks heavily held by ARK funds, Roku and Square, also fell on Friday, extending their recent decline.</p><p>Under the \"endless decline\" of technology stocks represented by Tesla, the ARK fund, which holds 10% of Tesla, also \"shares weal and woe\" with Tesla. It once fell by more than 25% since the high point on February 16, and smoothed out the gains since the beginning of the year and began to enter a \"technical bear market\".</p><p><img src=\"https://static.tigerbbs.com/7e365da8435984638ba425bf3ad61116\" tg-width=\"840\" tg-height=\"470\"></p><p>In addition, biotechnology stocks heavily held by ARK funds have also been severely impacted. Since ARK funds have heavy positions in small and medium-sized biotechnology stocks and occupy a large proportion of their outstanding shares, low liquidity will make it more difficult for ARK funds to sell and aggravate the decline of such stocks.</p><p>Morningstar data shows that ARK Fund's 26 small-cap companies in its five ETFs all account for more than 10% of the outstanding shares.</p><p>Ben Johnson, director of fund research at Morningstar, said that the higher the percentage of a fund's stake in a company, the harder it is to both increase or reduce its position without pushing up or down the stock price.</p><p><a href=\"https://laohu8.com/S/RY\">Royal Bank of Canada</a>Derivatives strategist Amy Wu Sliverman said investors are still hedging to prevent these highly valued stocks from falling further. If Tesla and ARK funds fall further, investors will reap the rewards of hedging.</p><p>According to Bloomberg, the number of put options purchased by ARK funds hit a one-year high on Thursday. Not only put options on ARK funds,<a href=\"https://laohu8.com/S/STT\">State Street Corp</a>Demand for ETF put options and SRDR S&P 500 index fund put options also continues to rise, reflecting the current bearish trend among investors.</p><p>But Morningstar believes that even if net worth falls,<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Still at historically high levels, 22x the average PE is still 2.5 x the overall PE of the market.</p><p>If you look at the timeline in a longer period of time, the ARK Innovation ETF has still risen by 120% in the past year, and added positions in technology stocks such as Tesla during the decline in technology stocks last month.</p><p>As for whether ARK and Cathie Wood can stick to the holding style and be friends of time, it may take longer to test.</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ARK and Tesla \"share weal and woe\", and the high-valued group stocks in the US stock market were \"slaughtered\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nARK and Tesla \"share weal and woe\", and the high-valued group stocks in the US stock market were \"slaughtered\"\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-03-06 12:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, as U.S. bond yields continue to rise, growth stocks and technology stocks, which had an astonishing trend last year, have adjusted sharply.</p><p>Concerns about rising interest rates and inflation expectations are extremely unfriendly to the valuation of tech growth stocks. The U.S. Treasury Bond yield once rose to 1.63% on Friday, and the first U.S. technology stock on Friday<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The stock price once fell by more than 13%, down 32% from its January high. The stock price fell below the $600 mark for the first time in three months, and the market value of $263 billion was wiped out.</p><p>Two other technology stocks heavily held by ARK funds, Roku and Square, also fell on Friday, extending their recent decline.</p><p>Under the \"endless decline\" of technology stocks represented by Tesla, the ARK fund, which holds 10% of Tesla, also \"shares weal and woe\" with Tesla. It once fell by more than 25% since the high point on February 16, and smoothed out the gains since the beginning of the year and began to enter a \"technical bear market\".</p><p><img src=\"https://static.tigerbbs.com/7e365da8435984638ba425bf3ad61116\" tg-width=\"840\" tg-height=\"470\"></p><p>In addition, biotechnology stocks heavily held by ARK funds have also been severely impacted. Since ARK funds have heavy positions in small and medium-sized biotechnology stocks and occupy a large proportion of their outstanding shares, low liquidity will make it more difficult for ARK funds to sell and aggravate the decline of such stocks.</p><p>Morningstar data shows that ARK Fund's 26 small-cap companies in its five ETFs all account for more than 10% of the outstanding shares.</p><p>Ben Johnson, director of fund research at Morningstar, said that the higher the percentage of a fund's stake in a company, the harder it is to both increase or reduce its position without pushing up or down the stock price.</p><p><a href=\"https://laohu8.com/S/RY\">Royal Bank of Canada</a>Derivatives strategist Amy Wu Sliverman said investors are still hedging to prevent these highly valued stocks from falling further. If Tesla and ARK funds fall further, investors will reap the rewards of hedging.</p><p>According to Bloomberg, the number of put options purchased by ARK funds hit a one-year high on Thursday. Not only put options on ARK funds,<a href=\"https://laohu8.com/S/STT\">State Street Corp</a>Demand for ETF put options and SRDR S&P 500 index fund put options also continues to rise, reflecting the current bearish trend among investors.</p><p>But Morningstar believes that even if net worth falls,<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Still at historically high levels, 22x the average PE is still 2.5 x the overall PE of the market.</p><p>If you look at the timeline in a longer period of time, the ARK Innovation ETF has still risen by 120% in the past year, and added positions in technology stocks such as Tesla during the decline in technology stocks last month.</p><p>As for whether ARK and Cathie Wood can stick to the holding style and be friends of time, it may take longer to test.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3622675\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9b81ae2e4eb68b12f842b78a958032b6","relate_stocks":{"ARKK":"ARK Innovation ETF","TSLA":"特斯拉"},"source_url":"https://wallstreetcn.com/articles/3622675","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117965839","content_text":"最近一段时间，随着美债收益率持续攀升，在去年走势惊人的成长股和科技股大幅调整。\n对利率上行以及对通胀预期的担忧，对科技成长类股票的估值极其不友好。在周五美国国债收益率一度上升至1.63%，周五美国科技第一股特斯拉股价一度下跌逾13%，较1月份高点下跌32%，股价3个月以来首次跌破600美元大关，2630亿美元市值灰飞烟灭。\n而ARK基金重仓的另外两只科技股——Roku和Square也在周五走低，延续了近期的跌势。\n在以特斯拉为代表的的科技股“跌跌不休”下，10%重仓特斯拉的ARK基金也与特斯拉“共患难”，自2月16日高点一度下跌25%以上，并抹平年初以来的涨幅，开始进入“技术性熊市”。\n\n此外，ARK基金重仓的生物技术股也受到严重冲击。由于ARK基金重仓非常多的中小市值生物技术股，并在其流通股中占有大比例仓位，因此低流动性将导致ARK基金更加难以卖出，并加剧此类股票的跌势。\n晨星的数据表明，ARK基金在其5只ETF中持有的26家小型公司，在流通股中所占的比例都超过了10%。\n晨星基金研究总监Ben Johnson表示，一只基金持有一家公司股份的比例越高，就越难以既增持或减仓，同时不推高或压低股价。\n加拿大皇家银行衍生品策略师Amy Wu Sliverman表示，目前投资者仍在进行对冲，以防止这些高估值股票进一步下跌。如果特斯拉和ARK基金进一步下跌，投资者将收获对冲带来的回报。\n据彭博，ARK基金的看跌期权购买数量在周四创下了1年新高。不仅是ARK基金的看跌期权，道富银行的ETF看跌期权以及SRDR标普500指数基金看跌期权的需求也持续高涨，也反映了目前投资者的看空趋势。\n但晨星认为，即便净值下跌，但ARK Innovation ETF仍处于历史高位，平均PE的22倍仍然是市场整体PE的2.5倍。\n如果把时间线放在更长来看，ARK Innovation ETF过去一年的涨幅仍然达到了120%，并且在上个月科技股下跌大潮中加仓了特斯拉等科技股。\n至于ARK及Cathie Wood能否坚持持仓风格并做时间的朋友，可能需要更长的时间来检验。","news_type":1,"symbols_score_info":{"ARKK":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1439,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":13,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}