ARKK stock is up and is trading at $36.32 as of 10:49 AM EDT.
More than the Nasdaq Composite dropped during the dot-com boom, Cathie Wood’s well-liked ARK Innovation ETF ( NYSEARCA:ARKK ) closed Friday’s trading session at its lowest level in five years. With the most recent selloff, ARKK is currently down 78.7% from its record high of $159.70 set back in February 2021.
Despite ARKK’s decline, the ETF continues to draw in investors, as evidenced by the $869.32 million accumulation since the fund peaked. Moreover, $267.37 million has been earned by ARKK since September 1, 2022.
ARKK is currently edging closer to its $33.00 2020 COVID-19 trading low. As the exchange-traded fund has not traded below $33 per share since September 5, 2017, if it were to go below the threshold level, it would then reach a new five-year trading low.
ARKK is currently up 2.2% in the early going of Monday’s premarket trading session as it attempts to recover from its 5.7% decline on Friday.
Not just the ARKK Innovation ETF, which is Wood’s flagship ETF, has struggled under his direction. In 2022, all five of her other actively managed ETFs are trading substantially in the red. As attention shifts to corporate earnings , stock index futures anticipate a higher open on Monday, reversing the previous session’s selloff.
ARKK stock forecast
Traders who bet against Cathie Wood’s ARK Invest
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