Here’s the market move - Cathie Wood says is ‘ridiculous’ as her flagship fund sputters
Cathie Wood, the star fund manager and chief executive of ARK Invest, in a new video told investors she is sharing their pain, as the flagship ARK Innovation Fund ARKK, -1.36% has slumped 45% since February. She said ARK funds make up more than half of her individual retirement account, and a “significant” part of her net worth. “I do want you to know that, of course, we’ve been through a very difficult time since the significant rotation from growth into value started nearly a year ago in mid-February, and I want you to know that we’re in there with you,” she said.
It should be said, executives at the companies she has invested in don’t necessarily feel the same. Company insiders at the innovation fund’s holdings sold $13.5 billion worth of stock in the six months to December while buying just $11 million, the Financial Times reported, citing data from brokerage StoneX.
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