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  • A Look Inside Bill Gates' Stock Portfolio Reveals His Big Winners
    Business
    Investor's Business Daily

    A Look Inside Bill Gates' Stock Portfolio Reveals His Big Winners

    Bill Gates' divorce filing is drawing attention to his financial assets. And investors get a glimpse at his stock picks blowing away the S&P 500.

  • Cathie Wood’s ARK Innovation ETF Is Selling Off—and It May Get Worse
    Business
    Barrons.com

    Cathie Wood’s ARK Innovation ETF Is Selling Off—and It May Get Worse

    The (ARKK) ETF (ticker: ARKK) delivered a 153% return in 2020. The ETF, which is actively managed by ARK Invest CEO and her team, is down 27% over the last three months, including an 13% decline in the past week alone.

  • Coinbase Plunges to All-Time Low With IPO ETF in Freefall
    Business
    Bloomberg

    Coinbase Plunges to All-Time Low With IPO ETF in Freefall

    (Bloomberg) -- Coinbase Global Inc. sank to a record low as investors fled high-flying market newcomers.The operator of the largest U.S. cryptocurrency exchange slumped 6% to $256.76 on Thursday, dropping for a fourth straight day. That left the shares just above the $250 reference price for its April direct listing. An exchange-traded fund that tracks shares of companies that recently went public plunged for an eighth day, the longest slide since 2015. Virgin Galactic Holdings Inc. and Opendoor Technologies Inc., companies that came to market through blank-check offerings, each sank at least 3.8%.“We saw a mini-bubble in SPACs, IPOs, crypto, clean-tech and hyper-growth in late 2020 and early 2021 and many of these asset classes are nursing bad hangovers,” said Mike Bailey, director of research at FBB Capital Partners.Coinbase’s slide comes as investors pour into extremely speculative cryptocurrencies such as Dogecoin and Binance Coin -- tokens that the exchange doesn’t offer. Most of its traffic had come from Bitcoin trades, but the price of the largest crypto coin has been mired in a narrow band for weeks. Coinbase started trading at $381 on April 14 before briefly topping $400. It’s now down 22% from the close on its first day.Nasdaq had set a reference price of $250 a share on April 13 for Coinbase’s direct listing, a number that’s a requirement for the stock to begin trading, but not a direct indicator of the company’s potential market capitalization.“What has really hurt Coinbase, now that their direct listing has taken off, you’re seeing expectations that other exchanges are coming on board,” said Edward Moya, senior market analyst at Oanda. “There’s this belief this could be as good as it gets for Coinbase in the short-term.”The Renaissance IPO ETF dropped 4.2% on Thursday, bringing its year-to-date loss to about 14%.(Updates prices.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • If you want to own international stocks, invest in these 3 countries instead of China
    Business
    MarketWatch

    If you want to own international stocks, invest in these 3 countries instead of China

    This weekend, millions of viewers will watch one of America’s most famous entrepreneurs, Elon Musk, co-founder and CEO of Tesla, host Saturday Night Live. Meanwhile, China’s best-known entrepreneur, Jack Ma, co-founder of Alibaba Group, has appeared just once in public in the last five months after the all-powerful Chinese government launched a regulatory offensive against his financial services company Ant Group. This, in a nutshell, tells you why the U.S., for all its problems, is a great place to invest, while China, for all its strengths, is a bad one: The U.S. encourages innovation while China crushes it.