A NOTE FROM BOB
The reopening trade continues, with Defiance ETFs launching its travel reopening ETF ($CRUZ). That's not to be confused with SonicShares' Airlines, Hotels and Cruise Lines ETF ($TRYP). This ETF battle is growing, and there could be more on the horizon.
Meanwhile gold, usually an inflation hedge, is missing out. ETF Trends CEO Tom Lydon told ETF Edge this week, "People don't need gold right now, they need everything else." He pointed to the commodities currently in high demand such as base metals, oil and agricultural goods. Lydon also points to how gold has taken a backseat to its digital rival bitcoin. With the cryptocurrency surging to record heights earlier this year before its recent dive, "It's taken a little bit of the luster out of gold," he said.
AMC Entertainment's record-setting rally and other meme stock surges are sending waves through part of the fund market. For more analysis and actionable insights, catch me live on Mondays at 1 PM ET on ETF Edge. KEY STORIES
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