Popular investor Cathie Wood who runs the investment firm Ark Investment Management said on Thursday that record breaking inventories at top U.S. retailers such as Walmart Inc (NYSE:WMT) and Target Corp (NYSE:TGT) could lead to weaker prices amid declining consumer sentiment and spending.
What Happened: A Tesla Inc (NASDAQ:TSLA) bull, Wood was responding to a tweet in which billionaire entrepreneur Elon Musk was quoted as comparing the recent inflation surge to the government printing “a zillion more dollars than it has” while the “velocity of money held constant.”
