Ark Invest ($ARKK@US) CEO and popular money manager Cathie Wood said that the latest used car price data indicate sales have peaked and that prices will come down as deflation plays a more significant role in the coming days. The latest inflation numbers from the U.S. Department of Labor showed used car prices are still rising, but not nearly as fast as in previous months. Wood has in the recent past propagated the idea that the big risk over the next few years is deflation, not inflation, and that it could benefit investments in innovation strategies. Prices of both used and new cars have surged to levels not seen in many years. Key automakers such as General Motors ($GM@US), Ford ($F@US), and electric vehicle maker Tesla ($TSLA@US) have struggled to wade through the global semiconductor shortage for about a year now. GM stock is up .37% on the day, while Ford and Tesla are down .32% and .84%, respectively.
