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Tech stocks have rocketed in the face of rising yields, but can ARKK catch up?
Or is there a potential fall in sight for Ark Invest’s flagship ticker?
Let’s look at some possibilities in this peek at today’s Macro Options Daily ☟
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ARKK & Tech Stocks
Tech stocks have had a fantastic run recently, fueled by optimism around AI and blowout guidance from NVDA.
The ARKK basket has also started participating in the upside that NDX began.
However, high-duration stocks without cash cow status may face challenges if yields keep rising.
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Interest Rate Hikes
The FOMC meeting next week is pricing in a 25% chance of a hike, with markets anticipating a 50% chance of another in July.
If the revealed Federal Reserve dots project a higher path for rates than the market expects, ARKK is likely to re-rate lower in our view.
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Short-Term Setup
We think there is a short-term setup for ARKK to correct 5-10% on the back of a hawkish meeting next week.
And don’t forget, we also have CPI data coming on June 13th.
So be sure to stay sharp and monitor rate hikes & CPI data to get a better grasp on ARKK’s potential moves.
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In the meantime, get more color on our thoughts around ARKK from this clip of today’s Macro Options Spotlight video on the Options Insight YouTube channel ↴
Then watch today’s full Spotlight video from the Options Insight YouTube Channel:
Apple’s AR Headset Disappoints & ARKK’s Potential Fall | Macro Options Spotlight | June 6, 2023
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Thank you for making it this far.
Please share this with anyone currently trading tech, especially ARKK!
Cheers!
Imran Lakha
Options Insight
