Ark’s Cathie Wood keeps tumbling

Ark's Cathie Wood keeps tumbling
Written by admin

It’s been a rough 2022 for famed money manager Cathie Wood, CEO of Ark Investment Management, as her exchange-traded funds tank.

Wood’s flagship fund, Ark Innovation ETF (ARKK) , plummeted 64% so far this year through October 1. 14, hitting a five-year low. Ark Innovation is down 79% from its February 2021 all-time high.

Sky-high interest rates and sluggish economic growth have taken a toll on Wood’s young and “disruptive” (as she describes them) tech companies. Rising rates hurt them because their profit stream will come in the future (if at all), while safe Treasury yields are rising now.

About the author


Leave a Comment