ARK Stock Commentary: Supreme Court Tariff Ruling, ETOR, CMPS, KLAR

[!warning] Conflict of Interest ARK Invest is an active fund manager. These are stocks in ARK’s own portfolios — they are explaining moves in positions they hold. Read as promotional context, not independent analysis.

Movers (Week of Feb 16-20, 2026)

• Supreme Court strikes down Trump tariffs: Cathie Wood hosted live reaction video. Major macro event.
• ETOR (+20%): eToro beat earnings with better-than-expected adjusted EBITDA. Funded accounts grew 9% to 3.8M. Social trading platform for stocks, commodities, crypto.
• CMPS (+31%): Compass Pathways hit primary endpoint in second Phase 3 trial for COMP360 psilocybin in treatment-resistant depression. 39% of two-dose patients achieved meaningful MADRS reduction at Week 6 (vs 25% single-dose in first trial). NDA submission expected Q4 2026.
• KLAR (-27%): Klarna reported 32% GMV growth and 38% revenue growth but missed transaction margin guidance by 6% due to upfront credit loss provisioning from accelerated banking adoption.

RDCO Relevance

Klarna BNPL/banking expansion relevant to fintech thesis. Compass Pathways psilocybin advancement is a mental health innovation signal. Tariff ruling is major macro catalyst.