Amplify ETF's Christian Magoon Responds to Criticism Facing Riot Blockchain
There's a new way to invest in Blockchain technology. Amplify ETFs launched a blockchain-based technology fund under the ticker "Blok" in January. Amplify ETF explains the opportunity he sees in this market, and responds to criticism facing one of the companies in this ETF's holding.
"The smallest position in the fund is Riot Blockchain," said Magoon. "The fund is actively managed so I expect the fund portfolio managers are adjusting the portfolio. This was a controversial company that we did some research in." Shares of Riot Blockchain plummeted after CNBC released a report suggesting the re-branding of the company was done for personal gain.
"Now that news has come out it really seems like the momentum of this stock is going downward, and I'm expecting that come tonight when we update our holdings I wouldn't expect to see that stock in the portfolio based on this report," said Magoon.
A labor rights group has alleged that Starbucks sourced coffee from a major Brazilian cooperative whose member farms were cited for keeping workers in slave-like conditions.
X, the social media platform owned by Trump adviser Elon Musk, is challenging the constitutionality of a Minnesota ban on using deepfakes to influence elections and harm candidates.
Seth Goldstein, Equity Strategist at Morningstar, breaks down Tesla's earnings report, talks Musk's future with the company and how stocks have responded.
Senior Health Correspondent for TIME, Alice Park, gives us a deeper look into how Eli Lilly's new pill orforglipron may change the healthcare industry.
Archer Aviation CEO Adam Goldstein talks about the advancements in electric air taxis and how his company is changing the future of air transportation. Watch!
