It’s no secret that Cathie Wood’s flagship asset management fund, Ark Innovation ETF, has taken a significant blow as her target equities, the latest technological businesses, have gone into a free fall. ARK Innovation ETF has lost about 70% of its value from its high in February last year, having lost 48% thus far in 2022. Musk’s Tesla (TSLA) is ARKK’s largest holding, and it has lost 15% of its value over the last 12 months. The decreases have occurred while interest rates have risen, and the Federal Reserve has signaled that additional rate increases are on the way. Higher interest rates damage young technology stocks since their significant development is predicted later, making their present income less appealing than safer assets, such as bonds with increasing returns. Wood Maintains a 5-Year Perspective Wood, the CEO of ARK, has stated that the stock market’s decline is only transitory. She also emphasized Ark’s 5-year financial plan. During the last 5 years, ARK has surpassed the S&P 500. Based on a report by Morningstar, the ETF had a total yearly performance of 16.3% in that time frame, in comparison to 13.9% for S&P 500. Investors don’t appear to have given up on Wood. Since April 21st, FactSet said that ARK had brought in $658M in 2022, along with $59M in the most recent week. This figure comes from the Wall Street Journal. A Morningstar report says that ARK has $9.3B worth of stocks. Morningstar’s Opinion Robby Gr...
Tether Treasury Mints $1 Billion in $USDT
