ARKK Jun 2024 67.000 put
| Previous close | 23.05 |
| Open | 23.05 |
| Bid | 22.95 |
| Ask | 23.50 |
| Strike | 67.00 |
| Expiry date | 2024-06-21 |
| Day's range | 23.05 - 23.05 |
| Contract range | N/A |
| Volume | |
| Open interest | N/A |
- Yahoo Finance Video
Elon Musk has been integral to Tesla's growth, AI: Cathie Wood
Ark Invest Founder, CEO, and CIO Cathie Wood — whose ARK Innovation ETF (ARKK) holds nearly $726.8 million in Tesla shares — is forecasting that Tesla (TSLA) stock could climb to $2,600 per share by 2029, in her firm's latest call on the EV maker. A long-time supporter of Tesla CEO Elon Musk, Wood joins Yahoo Finance to discuss the value Musk has brought to Tesla through his leadership. Tesla shareholders have ultimately voted to approve Musk's pay package, valued at around $46 billion based on the company's current stock price, with the results revealed at Tesla's annual shareholder meeting early Thursday evening. "Elon Musk has been incredibly important to Tesla and still is, not so much on the electric vehicle side — that's on automatic pilot, it's on the autonomous side," Wood says, emphasizing Musk's commitment to autonomous driving functions and integration of AI as to why she sees the stock soaring to $2,600. Wood goes on to say that there's no other company that will be as impactful for humanity as Tesla under Musk: "What many people don't understand is, the most important variable — once you've got the domain expertise and the AI expertise — is proprietary data. And Tesla has probably more proprietary data, than almost any company in the world. Elon Musk is the CEO of this age that we believe is going to best capitalize on the convergences between and among technologies..." Wood also comments on Tesla's position in the ARK Innovation ETF as the tech-adjacent EV maker maneuvers auto industry headwinds and a higher for longer interest rate environment. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance's Special Report on Tesla's annual shareholder meeting. Follow along with Yahoo Finance's coverage of Musk and his pay package saga: Elon Musk wins Tesla shareholder battle to keep his record-breaking pay Is Elon Musk the right fit as Tesla's CEO? Takes from 3 Tesla shareholders: Unenthusiastic yes to unequivocal no as Musk awaits vote on his pay Musk pay package: What's incentivizing shareholder votes Elon Musk's $46B Tesla pay package: Explained Poll: Should Tesla shareholders once again bless CEO Elon Musk's pay package proposal? Musk's Tesla pay package is 'excessive' and should be voted down, shareholder advocate says Most CEOs are defeating attempts to vote down their pay. Can Tesla's Elon Musk do the same?
- Yahoo Finance Video
Spot bitcoin ETF issuers: What you need to know
On Wednesday, January 10, the US Securities and Exchange Commission approved eleven spot bitcoin ETFs. Among the approved spot bitcoin ETFs were ones from Grayscale, Fidelity, and Bitwise. Yahoo Finance sat down with some of spot bitcoin ETF issuers this week. Here are some of their top takeaways. Ark Invest Founder, CEO, & CIO Cathie Wood (00:00:17) Ark Invest Founder, CEO, and CIO Cathie Wood notes three of the “competitive advantages” in Ark Invest's ETF, the ARK 21Shares Bitcoin ETF (ARKB). “One is our infrastructure and operation,” Wood says, “the second is research… The third competitive advantage we have is a sales force that started selling our exposure to bitcoin in 2016.” Wood adds, “we are looking at bitcoin as a public good. It is essentially, from a technology point of view… going to be the financial super highway of the internet.” Grayscale CEO Michael Sonnenshein (00:01:09) Grayscale CEO Michael Sonnenshein discusses “three things” regarding fees as the company’s spot bitcoin ETF, Grayscale Bitcoin Trust (GBTC), is charging a 1.5% fee, which is above many of the other spot bitcoin ETF fees. “Number one, we made a commitment to our investors that we would lower our fees… we made good on that promise and we’ve reduced fees by 25 percent,” Sonnenshein explains. “Number two, investors should have choice… And three… GBTC is differentiated. It brings a market value to investors that I think they know and appreciate.” Bitwise Asset Management CIO Matt Hougan (00:02:02) Bitwise Asset Management CIO Matt Hougan explains “two things” he thinks investors will look for in spot bitcoin ETFs. One is “what is the lowest fee product, cause the less you pay the more you get in finance,” Hougan notes. “And then who has the support systems to provide research and answers and data to execute trades well… the combination of crypto expertise and low cost, we think is a winner for” the company's spot bitcoin ETF, Bitwise Bitcoin ETF (BITB). WisdomTree Global Head of Research Christopher Gannatti (00:02:22) WisdomTree Global Head of Research Christopher Gannatti discusses why “it's going to be among the most competitive dynamics that we believe we have seen at WisdomTree in the ETF industry.” “Everyone is providing exposure to the same underlying spot oriented bitcoin ETFs. Many of the providers also waving the fees to zero, at least initially for various points of time and amounts,” Gannatti notes. The firm manages its own bitcoin fund under the ticker (BTCW). Senator Cynthia Lummis (R-WY) (00:03:12) Senator Cynthia Lummis (R-WY) explains that “when the traditional financial services industry has now adopted and recognized the long-term benefits of bitcoin specifically, as part of a diversified asset allocation. It helps make the case for having a robust, regulatory framework for digital assets so that investors can begin to further diversify their investments and incorporate a long-term store of value like bitcoin into their investment strategies.”
- Yahoo Finance Video
Cathie Wood, Meredith Whitney and more: C-Suite Insights
Yahoo Finance sat down with top leaders across different industries to discuss topics including the IPO market in 2024, luxury automobiles, and the housing market in the United States. Ark Invest (ARKK) Founder, CEO, and CIO Cathie Wood discusses the IPO market in 2024, Tesla, and a spot bitcoin ETF. "Now what we're seeing is we're diversifying once again. We're adding back... some stocks that we've sold... we're looking forward to the IPO window opening again," Wood says, especially in AI, as well as other innovation spaces. On Tesla (TSLA), Wood says, "we do believe that Tesla is in the pole position to be the autonomous taxi platform in the United States." Wood adds, "the outlook is bright for a... spot bitcoin ETF and we do think it will be in January." Automobili Pininfarina (PINF.MI) CEO Paolo Dellachà notes the "key elements" of being in "the luxury segment" as an ultra-luxury auto designer. "To stay in the luxury segment, is definitely a lot about technology, about performance. But still the key elements of Battista and everything Pininfarina... will also develop in the future, start and originates from the vision about the design," Dellachà explains. "For us, it was about embracing the future and also embracing the technology that not only allow us to have a car which is emission-free, is also allowing the car to have the highest level of performance that you can now achieve today. And this comes with electric." Meredith Whitney LLC Founder Meredith Whitney explains the "silver tsunami" in the housing market in the U.S. "The U.S. economy is remapping itself regionally," Whitney says, "you see population migration going along the lines of economic opportunity and economic growth." "The other major demographic trend you see, is the aging of America... the 'silver tsunami' is 10,000 people a day turning 65 and by 2030, the entire baby boomer... generation will be over 65." Whitney explains that "AARP estimates that 51 percent of people over 50 downsized their home and people over 50 are 74 percent of total U.S. homeowners. So if you just take... half of that you've got about 30 million homes that should be coming on the market." Key video moments: 00:00:05 - Ark Invest CEO Cathie Wood 00:00:46 - Automobili Pininfarina CEO Paolo Dellachà 00:01:32 - Meredith Whitney LLC Founder Meredith Whitney
