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ARK Invest's Wood expects market rotation back to growth stocks

Reuters2021-09-15

NEW YORK, Sept 14 (Reuters) - Star stock picker Cathie Wood of ARK Invest on Tuesday reiterated her call that slowing economic activity in the United States will bolster growth stocks.

Wood cited disappointing job growth in August and weakening consumer price index figures as signs that the U.S. economy will grow at a pace slower than many on Wall Street expected at the start of the year. Her flagship $21.1 billion ARK Innovation fund was the top-performing actively managed U.S. equity fund tracked by Morningstar last year.

"We think we are moving into the other side of the cycle" after the reopening from the coronavirus pandemic led to widespread commodity shortages earlier this year and bolstered cyclical value stocks, she said on a webinar.

"We do believe that the market will start rotating back toward growth and innovation," she added.

Wood's portfolio, which is heavy in growth stocks such as Tesla Inc , Teladoc Health Inc and Unity Software Inc , is down 5.5% for the year to date, well behind the nearly 19% gain for the benchmark S&P 500. The performance ranks in the lowest percentile among the 593 U.S. mid-cap growth funds, according to Morningstar.

The fund fell 0.4% in afternoon trading Tuesday.

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Comment14

  • rayydream
    ·2021-09-16
    Like pls
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  • Snakewood
    ·2021-09-15
    Conflicting signals... if rotate to growth, why sell/trim tesla, a growth stock.. ????
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  • SSVC
    ·2021-09-15
    Nice Appreciate your response and comments Thanks 
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  • Alanshi55
    ·2021-09-15
    Hope so
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  • SunnyTan
    ·2021-09-15
    Great [財迷] 
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  • meowmeow88
    ·2021-09-15
    a matter of time
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    • ZEROHERO
      Let’s move it, move it ???
      2021-09-15
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  • Barbarazhao
    ·2021-09-15
    Hope so
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  • EY12
    ·2021-09-15
    Like
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    • EY12
      hi
      2021-09-15
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  • Tailwind
    ·2021-09-15
    Really?
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    • Naureen
      Ok
      2021-09-15
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  • Fior
    ·2021-09-15
    It will bounce back after everyone finish their holiday, is time to collect in low price
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    • L1324
      down up
      2021-09-15
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    • Aloynty
      Could already be in motion
      2021-09-15
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    • MrInvestor
      yea
      2021-09-15
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  • IZLIN
    ·2021-09-15
    Reply
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  • Shishir
    ·2021-09-15
    Good
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  • Ermmmmmm
    ·2021-09-15
    Keep flipping almost every day is it ? 
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    • ZEROHERO
      Her job to her investors
      2021-09-15
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  • HoSeyLiao48
    ·2021-09-15
    [強] [看漲] [看漲] [美金] [梭哈] 
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