ARKG is trading 3.1% up today as reports of a potential $400 billion mega-merger between AstraZeneca and Bristol Myers Squibb lift sentiment across the genomics and biotech sectors.
- The rumored deal is driving gains in large-cap pharma and innovation-focused companies that comprise a significant portion of the ARKG portfolio.
- Broader U.S. equity markets are providing additional tailwinds, with the S&P 500 and Nasdaq trading sharply higher amid surging risk appetite.