Ark’s Cathie Wooden Continues to Stumble
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It’s been a tough 2022 for famed cash supervisor Cathie Wooden, chief government of Ark Funding Administration, as her exchange-traded funds sink.
Wooden’s flagship fund, Ark Innovation ETF (ARKK) , plunged 64% 12 months up to now by means of Oct. 14, hitting a five-year low. Ark Innovation has tumbled 79% from its February 2021 report excessive.
Hovering rates of interest and sluggish financial development have dented Wooden’s younger, “disruptive” (as she describes them) expertise corporations. Rising charges damage them as a result of their earnings stream will come down the street (if in any respect), whereas the protected yields of Treasury bonds are rising now.
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