Cathie Wood’s ARK ETFs Are in a Deep Hole—Already

Barrons2022-01-06

The new year did not bring a fresh start for Cathie Wood’s ARK Invest, a fund company known for its focus on innovation stocks and high price targets.The firm’s flagship ARK Innovation exchange-traded...

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Comments

Mneme
2022-01-07
Mneme
[Speechless]
Gackky
2022-01-06
Gackky
ARK ships are sinking from institutions’ bombardment and fed are sipplying the ammos
Jade78
2022-01-06
Jade78
The descent of ARK will continue. Time to buySARK now?
sylarspock
2022-01-06
sylarspock
Scary
SSVC
2022-01-06
SSVC
Ya
Tailwind
2022-01-06
Tailwind
[Cool]

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All of ARK’s other ETFs, including the latest ARK Transparency ETF (CTRU) launched just last December, are also deep in the negative territory.Growth stocks fell on Wednesday after the latest minutes from the Federal Reserve’s December policy meeting was released, suggesting that the central bank’s rate increases might be earlier and faster than market has expected.Investors were spooked as Fed Chairman Jerome Powell shifted his tone to emphasize the risks of inflation—after months of describing the rising prices as “transitory”—as a new Covid-19 variant is rampaging across the country and causing supply-chain disruptions.The S&P 500 lost 2% in the last two hours of Wednesday’s trading, growth stocks within the index tumbled 3%, and the tech-heavy Nasdaq Composite dropped 3.3%.But the ARK ETFs are some of the worst-performing funds amid Wednesday’s decline. 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