Cathie Wood’s misery mounts as ARKK ETF’s assets drop below $20BN
Al Jazeera
Caught in a broad tech selloff, Wood’s Ark Innovation exchange traded fund has fallen for nine of the past 10 sessions, a retreat that accelerated on Monday in the biggest slide in about seven weeks.
Cathie Wood’s miserable month continued on Tuesday, as her flagship exchange-traded fund extended declines and its assets dropped below $20 billion to the lowest since January. The Ark Innovation ETF (ticker ARKK) slid 1% as of 9:47 a.m. in New York. Caught in a broad tech selloff, the product has fallen for nine of the past 10 sessions, a retreat that accelerated on Monday in the biggest slide in about seven weeks. Tesla Inc., the fund’s biggest holding, was down 3.5% on Tuesday. Teladoc Inc., also heavily weighted in the ETF, dropped less than 1%.More Related News