Cathie Wood’s ARK Innovation turns positive for the year as growth stocks surge

CNBC2021-06-25

After a tumultuous first half of 2021, Cathie Wood’s flagship fund —ARK Innovation— just went positive for the year as investors begin to give growth names a nod. The actively managed ETF rose 1.5% on...

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Comments

Barbarazhao
2021-06-25
Barbarazhao
Great
syleo
2021-06-25
syleo
?
bzlim
2021-06-25
bzlim
I'm still in the red. Sadly. Bought way too high.
- syleo:
  same
9G
2021-06-25
9G
Interesting
honkfish
2021-06-25
honkfish
Buy buy buy
Eelheis
2021-06-25
Eelheis
Wow

Leave a comment

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The innovation fund has rallied 5.4% this week and over 11% this month.\nSince bottoming on May 13 — a day after thehottest inflation reading since 2008— the fund is up about 25%.\n\nARK Innovation started to suffer in late February when a striking rotation from growth to value occurred in the market. However, fears of higher interest rates triggered by inflation appear overblown, as the U.S. 10-year Treasury sits around 1.5% after hitting a high near 1.8% at the end of March.\nWith interest rates continuing to come down and the threat of inflation under control, investors are now shifting back to their favorite growth names, and Wood’s Ark Invest is back on an upswing.\nWood called the comeback earlier this month. She told clients“the rotation back to growth is probably close at hand”on June 8.\nWood’s theory is that consumer spending is going to make a major move to the services sector after dominating in the goods sector during the coronavirus pandemic. Wood presciently said this would spur a decline in commodity prices and cyclical stocks, setting the stage for outperformance in innovation names.\nTo be sure, the fund has a long way to go to breach its record high from February. The ETF sits about 21% from its 52-week high.\nPower in ARK’s top holdings\nWood — known for taking advantage of dips in her highest conviction picks — spent the last few volatile months doubling down on her top holdings. Recently, Wood — a longtime bitcoin bull — has taken advantage of weakness inDraftKings,CoinbaseandGrayscale Bitcoin Trust.\n“We have capitalized on this volatility by selling names that have held up better than others and moving into names ... those that we have a high degree of conviction and those that are more opportunistic,” shesaid during an ARK webinarthis month. Wood told CNBC last month she now expects a 25% annual rate of return in her top holdings over the next five years.\nSince April’s hot inflation report released on May 12, Wood’s top holdings bottomed out and have led the ETF higher.\nCNBC Pro arranged the fund’s holding based on market valuation and screened for how much the equities have gained since then.\nShares of Tesla— the fund’s largest holding — are up roughly 15% since mid-May as of Wednesday’s close.\nAs of Wednesday’s close,Teladoc Health and Shopify are up about 20% and 43%, respectively, since the May bottom.Squarehas gained 21% andZoom Videohas popped 30% since then.TwilioandUnity Softwareare up 37% and 40% since the May bottom, respectively. DocuSign is up a whopping 52% in that time.\nWood made a name for herself after a banner 2020 where ARK Innovation returned nearly 150%.\nARK Innovation has seen roughly $7 billion of investor money enter the ETF in 2021, according to FactSet. In the past year, the $15 billion in fund flows have rushed Wood’s flagship fund.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":122198145,"gmtCreate":1624602005887,"gmtModify":1703841484245,"author":{"id":"3576888762442253","authorId":"3576888762442253","name":"Barbarazhao","avatar":"https://static.tigerbbs.com/40f6fdeabe0e8cac300f1fd2a17eb3ac","vip":1,"crmLevel":6,"crmLevelSwitch":1},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122198145","repostId":1160571601,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":122375172,"gmtCreate":1624600900896,"gmtModify":1703841460933,"author":{"id":"3578625353408103","authorId":"3578625353408103","name":"syleo","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122375172","repostId":1160571601,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":122303123,"gmtCreate":1624595719862,"gmtModify":1703841330338,"author":{"id":"3572436349218639","authorId":"3572436349218639","name":"bzlim","avatar":"https://static.tigerbbs.com/3b2aafaf14823285f7393917b6ff4f54","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"I'm still in the red. Sadly. Bought way too high.&nbsp;","listText":"I'm still in the red. Sadly. Bought way too high.&nbsp;","text":"I'm still in the red. Sadly. Bought way too high.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/122303123","repostId":1160571601,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5009871,"gmtCreate":1624601574329,"gmtModify":1663229984533,"authorId":3578625353408103,"author":{"id":3578625353408103,"authorId":3578625353408103,"name":"syleo","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":122303123,"type":1,"supId":0,"prevId":0,"content":"same","text":"same","html":"same"}],"langContent":"EN"},{"id":122061753,"gmtCreate":1624588642372,"gmtModify":1703841116124,"author":{"id":"3581926530641733","authorId":"3581926530641733","name":"9G","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122061753","repostId":1160571601,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":122089594,"gmtCreate":1624588033218,"gmtModify":1703841099845,"author":{"id":"3574848576018567","authorId":"3574848576018567","name":"honkfish","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Buy buy buy&nbsp;","listText":"Buy buy buy&nbsp;","text":"Buy buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122089594","repostId":1160571601,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":122014386,"gmtCreate":1624587928745,"gmtModify":1703841094642,"author":{"id":"3586257880212732","authorId":"3586257880212732","name":"Eelheis","avatar":"https://static.tigerbbs.com/377a44bd36e37057b0a3ea65ec21afba","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122014386","repostId":1160571601,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":214,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1160571601"}