Cathie Wood’s ARKK falls 60% from its peak, erasing all post-pandemic gains
- Date: 21-Apr-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Cathie Wood’s ARKK falls 60% from its peak, erasing all post-pandemic gains
A broad sell-off in technology stocks has dragged Cathie Wood’s main Ark Invest fund into the gutter – and it looks like it will take a long time for the popular ETF to dig itself out.
The average holding in Ark Innovation (ARKK), Ark Investment Management’s namesake flagship exchange-traded fund, is currently down over 70% from its five-year high, according to fresh data from market research firm Bespoke Investment Group. The rout in ARKK’s portfolio brings the investment vehicle 60% below its peak in February 2021.
Shares of ARKK were down 4.7% Wednesday to $56.89 as of 2:23 p.m. ET.
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