This is how I see how many of ARK's picks has AMC level of fluff in their valuation.He was investing in water, why didn't he invest in Apple while everyone was buying homes? He was 2 years early on the housing thing. If he'd bought options on Apple he'd have done better than shorting the housing market.
There are literally hundreds of incredible buys out there. The key point is that he was not part of TelsaQ. He was not shorting Tesla when it was at 250 (pre split). I'd suggest reading up on him though. His continued concern re the pricing of Cathy Woods ARK is, to me, one of the biggest points an investor needs to understand if they are really going all in on Tesla.
Ark was the most bullish on Tesla when the stock was extremely out of style. After Cathie's bullish call, we saw that tsla did nothing but tank to 5 year lows, dragging her entire ETF down, and some saved only by genomics. NO ONE cared about their picks as everyone see Cathie as a crazy person who loves to pick losers.
After Tesla's 15x increase, people see Cathie as a stock picking God. Everything ARK buys, the rest of the retail investors flock to. Valuation is not a concern for these dumb investors because they see anything Cathie pick as the next Tesla. This is how stocks like Nano Dimensions went to 16 bucks based on nothing but hopes and prayers. My friend bought in because "well ARK bought it so they see something in it you don't " after I was telling him how their revenue dropped 95% the past 5 years and they were convicted of money laundering. But he was one of those sheep's who bought it at 10, 12, 16..at any price. Now that it's sitting at 5 dollars, I don't see him buying anymore after telling me he would go all in at every pullback.
So yeah lots of fluff from Ark's picks because retail investors are apes strong together.