Cathie Wood's flagship ARK Innovation ETF now stands over 40% beneath its Feb. 15 peak, FactSet data show.
Cathie Wood’s flagship ARK Innovation ETF on Friday carved out lows not seen in more than a year, as the technology sector suffered through an omicron-inspired repricing that brought the Nasdaq Composite Index more than halfway to correction territory.
Wood formed ARK Investment Management about seven years ago, and is listed as one of the 100 Most Influential Women in U.S. Finance by Barron’s, but her flagship fund has been pounded in recent months and now stands over 40% beneath its Feb. 15 peak, FactSet data show. However, gains for those companies have come off the boil, with Tesla down 15% in the past 30 days and Teladoc, representing the largest holdings with ARK Innovation, off 40% over the same period.
Meanwhile, another ARK fund was also struggling. The ARK Genomic Revolution ETF ARKG, -4.76% is down 25% over the past month and is off 37% in the year to date, after surging 178% last year.
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