There's no nice way to cover it up. This has been a lousy year for innovation-heavy growth stocks. Cathie Wood's flagship fund, the Ark Innovation ETF is down about 60% since the end of 2021 and many of its components have fallen even further.

Growth stocks have been tanking because it's easier to focus on potential future cash flows and ignore present-day losses when fresh injections of capital are easy to come by. Rising interest rates have been disastrous for growth stock prices but many of the businesses behind those stocks are stronger than ever.

Image source: Getty Images.

Continue reading

Source Fool.com