ZOOM - Time To Dive Into Cathie Wood's Portfolio Stocks? Ark Founder Says They've 'Corrected Tremendously' And Due For Rebound | Benzinga
Cathie Wood-owned Ark Invest’s flagship exchange-traded fund, the Ark Innovation ETF (NYSE:ARKK) is currently trading well off its peak reached in early 2021. The fund manager said on Wednesday a recovery may be in the offing.
What Happened: Most of the S&P 500 returns in 2023 were from the Magnificent Seven companies and some of their valuations may be stretched now, Wood said in a CNBC interview. With Tesla underperforming, people are now calling the mega-cap, high-flying tech stocks as the “Magnificent Six,” she said.
“Most of the market did not rally last year,” Wood said, adding that the rest was up only 7%.
Most stocks Ark’s funds own do not belong to ...