To The Moon

One research analyst prefers the Nasdaq for exposure to 'disruptive innovation'. Cathie Wood's ARK Innovation ETF is struggling even as the U.S. stock market has jumped this year, with the fund unlikely to catch a bid until the Federal Reserve begins cutting interest rates, according to DataTrek Research.The exchange-traded fund is "heavily weighted towards struggling disruptive tech themes that have yet to return to their winning pandemic ways, even as the S&P and Nasdaq just made all-time highs," said Jessica Rabe, co-founder of DataTrek, in a note emailed Friday.Shares of the ARK Innovation ETF ARKK - which is managed by Wood, ARK Investment Management's founder and chief executive - are down more than 13% so far this year, according to FactSet data, at last check. By contrast, the S&P 500 SPX and technology-heavy Nasdaq Composite COMP were both posting year-to-date gains of nearly 11%, after each index closed at a record peak on May 15.Many investors expect the Fed may begin loweri

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