Little Shop of Horrors Back on Broadway

Quick note into the bell here on a day where recent market choppiness has given way to some near-term sogginess, the second largest holding by market cap in ARKK is currently Shopify, seen on its steep weekly chart, below. 

I mention this due to the hot-blooded feud rising to the surface between Cathie Wood and Michael Burry. Naturally, TSLA being the top holding in ARKK by market cap has many eyes, especially since Burry is short TSLA in addition to ARKK, a double-whammy of beta. 

But I suspect SHOP may be the linchpin here for a variety of reasons, especially if the steep uptrend corrects into autumn. Ms. Wood already holds a fair amount of beaten-down bios and other small caps which has gotten the business since the spring. 

Thus, unless those laggards catch a strong bid soon she likely needs her monster winners to avoid sharp price corrections. 

SHOP is back on Broadway for September and should be a highly visible name for you--Whether it turns out to be a Little SHOP of Horrors for Ms. Wood or Mr. Burry remains to be seen, although I tilt towards the price correction cap for SHOP before October earnings.