Our call of the day comes as investors wait for electric-vehicle giant Tesla to report later. Wall Street doesn't get it, says ARK's Cathie Wood.
It’s looking like a jittery start to the week, with stock futures falling, and China and Hong Kong stocks slumping amid a technology crackdown. Bitcoin is headed the other way, thanks in part to a help-wanted ad from Amazon.com.
In the first of a series of interviews that published Monday on Real Vision, Wood zeroed in on shortcomings of Wall Street, which she said needs more specified technology analysis. She highlighted its approach to Tesla as one example. “Tesla is a technology company, but it’s not just one technology company,” she said, pointing to energy storage, robotics, artificial intelligence and software-as-a-service. “So we have three analysts building the Tesla model,” she said.
It will be “critically important to get innovation right and I do not believe traditional research departments are set up to do that right now,” said the money manager. You can check out part one of her interview here.China 000300, -3.22% and Hong Kong HSI, -4.13% stocks have been hammered, led by technology names, after Beijing announced an overhaul of the tech education sector. Shares of U.S. -listed New Oriental Education & Technology Group EDU, -54.22%.
Defense group Lockheed Martin LMT, +0.22% is due to report, while shares of toy maker Hasbro HAS, -0.89% is rising after a big profit beat. Tesla is coming after the bell.
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