Can Cathie Wood Bounce Back in 2022?
ARK Invest founder, CEO, and primary stock picker Cathie Wood wants to party like it's 2020, and it's easy to see why she might still want to write that year on her checks. Her collection of growth-oriented exchange-traded funds (ETFs) dominated the market last year. The Ark Innovation ETF (NYSEMKT: ARKK), her flagship fund with more than $21 billion in assets, turned heads with a 150% surge last year. So far in 2021, the ETF has proved to be mortal with a 19% slide, hitting a fresh 52-week low on Thursday.
Flashy funds go out of favor all the time. This situation is unique because Wood's transparency finds the demise playing out in real time. ARK sends out email blasts after every trading day to all willing recipients, spelling out the stocks that Wood bought and sold earlier in the day across all of her ETFs.
When the funds were rocking last year (and boy, were they rocking), it was a master class for growth investors. It's been a comedy of errors in 2021, as we see her routinely add to some of her fading positions.
Source Fool.com