![]() ![]() 8 column, I noted that “the U.K.’s Department of Health and Social Care decided to end its data-sharing agreement with Palantir,” and reported that “America’s Immigrations and Customs Enforcement is trying to eliminate Falcon, a surveillance tool developed by Palantir, and replace it with a product called RAVEn. Indeed, as I pointed out in a column back in March, Wood basically admitted in a February interview on CNBC that she herself did not know what, if any, competitive advantages, the company has.Īnd in an Oct. ![]() Among the reasons for my bearishness have been the company’s very high valuation, lack of profitability and largely unidentified - and possibly nonexistent - competitive advantages. Here are four Cathie Wood stocks that investors should look to unload before the end of the year: To Wood’s credit, she’s gotten rid of two of her worst picks from earlier in the year - Workhorse (NASDAQ: WKHS) and Virgin Galactic (NYSE: SPCE) - that I panned in previous columns.īut given the fund manager’s poor performance this year and the weak fundamentals of some of her picks, I would definitely recommend selling several Cathie Wood stocks on any strength in the coming weeks. Still, some of Wood’s favorite stocks have been dramatically overvalued, and she has chosen the shares of several companies that are facing extremely tough competition and/or highly uncertain futures. ![]() That’s because it’s been a very tough year for tech stocks in general and highly innovative tech stocks in particular.Īmong the reasons for their struggles are fears of interest rate increases and stagflation, the chip shortage, and more intense worries about valuations this year than in 2020. In some ways, Woods’ underperformance is understandable. 26, the fund has dropped by around 1% year-to-date. So it’s fair to say that, by and large, Cathie Wood stocks haven’t done very well in 2021.Īs of Oct. Not only is Cathie Woods’ ETF, the ARK Innovation ETF (NYSEARCA: ARKK), way underperforming the S&P 500, but it has actually lost ground in 2021. ![]()
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