Cathie Wood Says ARKK Is ‘the New Nasdaq’
- ARK chief says innovation no longer present in Nasdaq index
- ARKK fund ‘felt it every time Powell spoke’ last year
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Cathie Wood’s funds had a scorching start to the year and she wants investors to know it.
The founder and chief executive officer of ARK Investment Management said Thursday that her flagship fund now gives investors better exposure to long-term innovation than most of the market’s most popular growth stock benchmarks. While the ARK Innovation ETF (ARKK), has jumped nearly 40% this year — more than twice as much as the Nasdaq 100 — the fund is still down more than 70% from its peak two years ago, underperforming the index by about tenfold.