Elon Musk 'vitally important' to Trump admin.: Cathie Wood

M&A could be back on the menu for companies looking forward to a second Donald Trump presidency — major banks anticipate a slew of beneficial deregulations while Big Tech believes it has found a new friend in its antitrust battles with the Federal Trade Commission (FTC). To expand more upon how Corporate America is interpreting Trump's 2024 election victory over Vice President Kamala Harris, ARK Investment Management CEO and CIO Cathie Wood sits down with Julie Hyman and Josh Lipton on Market Domination Overtime. Wood's firm manages the ARK Innovation ETF (ARKK), which has a variety of holdings in tech players like Tesla (TSLA), Palantir Technologies (PLTR), and Coinbase Global (COIN). Wood calls Securities and Exchange Commission (SEC) Chair Gary Gensler "a menace" to crypto-adoption in the US, and says replacing FTC Chair Lina Khan will "break the M&A logjam" for most companies. "I think venture capital has been harmed dramatically in the last few years, for lack of liquidity events. Liquidity events, very importantly, involve mergers and acquisitions, and those ground to a halt, even in mergers or deals where the two companies were not competing with each other," Wood tells Yahoo Finance. A long-time supporter of Tesla (TSLA) CEO Elon Musk, Wood believes he will play a "vitally important role" in Trump's government efficiency initiative while remaining "focused" on the plethora of companies he owns. "As he says, and I've always believed, government spending is taxation, and we are bloated right now. We're just overwhelmed with taxation as well," Wood explains. "So I think that he's going to be really important in two ways — introducing new technologies, and actually cutting out a lot of middlemen in the government, just like he did at Twitter." Tesla currently makes up 14.21% of the ARK Innovation ETF, the holdings worth just over $900 million. Wood is forecasting Tesla stock to reach $2,600 in five years time; while confident in the EV maker's ability to bring safe fully autonomous vehicles to market, she disagrees that Tesla's most recent stock jump has to do with Musk's affiliation with Trump.
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[markdc]

I invested in her fund, didn’t go anywhere, sold most of it off. Well, at least she’s bullish on TSLA.

[ftakenouchi]

I lost min 50% in her ETFs since 3 years ago and haven’t recovered at all. That’s her record and what is she charging?

[robertjay]

She has some nerve! Showing her face in public!

[irmasotak]

Thank you Cathie, you recommended Palantir when the stock was $7.00 and I bought it!

[AlfredKriman]

Given Wood's record in recent years, her bullishness on the incoming administration is the most discouraging news I've heard.

[sbowesuk]

Being bullish on a winner AFTER they've won only tells us that she's trying to fall in line. It doesn't demonstrate any insight whatsoever. When it comes to her predictions, she's wrong far more often than she's right. She just bets on a minority of winners surpassing the sum total of her losers, which are many. She's a glorified gambler.

[cynthiasmith-wlbi]

Musk is WAAAY important as First Lady!!!

[Gutbucket]

This is the golden age of shifty carnival barkers.

[chessdad]

Might as well have interviewed Jim Cramer. Both have lost millions for people.

[ajobha]

She says Waymo is 'proof of concept' but Tesla is the real deal??? 😂

[MrPhilipcas]

Twitter is doing fine!? Hmmm. This woman is something else.

[zando]

Someone needs to do an Inverse Cathie Wood

[klnrklnr]

does elon have compromising photos of cathie or something?

[GG-sxgi]

Objectively speaking she is the worst fund manager of all time. Why is she getting air time?

[GuessWhoFromShaolin]

This lady should retire. Her ark fund destroyed investors

[danheuser]

Back around 2019 Ark/Cathie had a Tesla price target of about $3000 (with a bear case of $1500) and expected it to hit that in 2024. Now she’s saying $2900 in 2029? Why doesn’t she try more modest price targets.

[davidmercado]

“ a public opinion will not get you rich in Wall Street “-Warren Buffet

[iann.]

She bullish on Trump & Musk, but your stocks are losing money every year… you should be ashamed to speak in public about stocks.

[matt.stevick]

she’s still going, i give her props for that. she could afford to just disappear.

[johnc]

Why is she still getting a voice in the media? Shame on you Yahoo Finance.