Cathie Wood, CEO and CEO of ARK Investment Management LLC, speaks at the Sooner Than You Think conference in Brooklyn, New York, on Tuesday, October 16, 2018.
Alex Flynn | Bloomberg | Getty Images
Ark Invest’s flagship fund, Ark Innovation, was beaten this week amid the sale of innovation names pressured by rising interest rates.
ETF shares have fallen more than 14% this week and 30% less than the all-time high. The fund has wiped out all 2021 gains this week, with a drop of more than 10% during the year.
Shares of Ark Innovation lost nearly 6% on Friday.
Keeping the course, Wood took the tech wreck this week as an opportunity to buy the deposit in some of its major ETF holdings.