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Cathie Wood says Michael Burry doesn’t understand innovation space after he bets against ARK fund

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Cathie Wood called out Michael Burry on social media after ‘The Big Short’ investor placed a bet against her flagship ARK Innovation exchange-traded fund.

“To his credit, Michael Burry made a great call based on fundamentals and recognized the calamity brewing in the housing/mortgage market. I do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space,” Wood tweeted on Tuesday morning.

On Monday, regulatory filings spotted by CNBC Pro showed Burry bet against Woods’ ARK Innovation ETF using options. Burry’s Scion Asset Management bought 2,355 put contracts against the red-hot tech ETF during the second…



Source cnbc.com

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