Cathie Wood’s Misery Mounts as ARKK Assets Dip Below $20 Billion

Cathie Wood’s Misery Mounts as ARKK Assets Dip Below $20 Billion

(Bloomberg) -- Cathie Wood’s miserable month looked set to continue on Tuesday, as her flagship exchange-traded fund slipped in pre-market trading and assets dropped below $20 billion to the lowest since January.

The Ark Innovation ETF (ticker ARKK) slid 4% as of 7:35 a.m. New York time. Caught in a broad tech selloff, the product has fallen for nine of the past 10 sessions, a decline that accelerated on Monday in the biggest slide in about seven weeks.

Tesla Inc., the fund’s biggest holding, was down 6.7% in the premarket. Roku Inc. and Teladoc Inc., also heavily weighted in the ETF, each dropped around 5%.