Cathie Wood, head of Ark Investment Management, often adds to her favorite tech stocks when prices swing.
This week, she's buying **** eX (SPCX), continuing to build her position after the newly public stock went through a volatile stretch following its first earnings report.
Last year, the flagship Ark Innovation ETF gained 35.49%, far outpacing the S&P 500's return of 17.88% in the same period. So far this year, Wood's flagship Ark Innovation ETF (ARKK) is up 10.71% as of August 21, while the S&P 500 surged 12.11%, Yahoo Finance data shows.
Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020. But her style also brings painful losses in bearish markets, as seen in 2022, when the Ark Innovation ETF tumbled more than 60%.
Those swings have weighed on Wood's long-term gains. As of August 21, her Ark Innovation ETF has delivered a five-year annualized return of -6.23%, while the S&P 500 has an annualized return of 11.56% over the same period, according to data from Morningstar.
#flagship #period
This week, she's buying **** eX (SPCX), continuing to build her position after the newly public stock went through a volatile stretch following its first earnings report.
Last year, the flagship Ark Innovation ETF gained 35.49%, far outpacing the S&P 500's return of 17.88% in the same period. So far this year, Wood's flagship Ark Innovation ETF (ARKK) is up 10.71% as of August 21, while the S&P 500 surged 12.11%, Yahoo Finance data shows.
Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020. But her style also brings painful losses in bearish markets, as seen in 2022, when the Ark Innovation ETF tumbled more than 60%.
Those swings have weighed on Wood's long-term gains. As of August 21, her Ark Innovation ETF has delivered a five-year annualized return of -6.23%, while the S&P 500 has an annualized return of 11.56% over the same period, according to data from Morningstar.
#flagship #period
2 months ago
