It’s been a dismal week for Cathie Wood’s flagship fund, Ark Innovation, that’s left nearly all of her holdings in bear market. Wood’s main exchange-traded fund, which trades under ticker ARKK, is down more than 12% this week, on pace of its worst week since February. Ark Innovation is down 6% on Friday. The painful losses have left all but 2 of Wood’s constituents more than 20% off their recent high, meaning they are in a bear market. Just Trimble and Tesla are less than 20% from their high, but the pair are both more than 10% from their 52-week records. Berkeley Lights, Proto Labs and Skillz are all more than 80% below their 52-week highs.
Wood spoke to CNBC this week and kept her conviction in Ark’s strategies, which focus on “disruptive innovation” in five digital plaforms: DNA sequencing, robotics, energy storage, artificial intelligence and blockchain technology. Wood said her strategies are set to quadruple over the next five years, after their underperformance this year. The portfolio manager expects the next few years to bring the “most spectacular period for innovation that we have ever seen,” said Wood.
Ark invests in XPEV the same day US regulators announce delisting of Chinese firms. XPEV down 10% the next day.
Cathie Wood & Ark Invest's trade activity from today 12/3 pic.twitter.com/Gyws6htNUC
— Ark Invest Daily (@ArkkDaily) December 4, 2021
- You May Want To Vomit After You Read About The Unspeakable Evil That Is Happening All Over America Right Now
- THESE 3 Countries Are Collapsing | Civil Unrest Has Begun in Europe
- Videos and pictures from Turkey’s catastrophic earthquakes
- Massive global cyber attack ongoing; Major nationwide internet outage in Italy
- This Is The Real Significance Of The “Chinese Spy Balloon” Saga…
- THAILAND DECLARES DEATH CON 3 ON PFIZER
- On The Brink Of WW3 (Updates)
- Do You Accept a 35% Higher Chance of Dying Today? Well Then I Have Life-or- Death News For You.
- IMF tells Zimbabwe to get rid of their Gold Coins
- The balloon is most likely a hoax intended to divert attention away from the Project Veritas Pfizer BUST.