Cathie Wood’s Ark ETF Rallies With Tech High-Flyers Surging
- Flagship fund was mired in longest losing streak since 2018
- ‘Nothing has changed except the price,’ Wood tells CNBC
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Cathie Wood’s flagship ETF bounced back from its worst run of losses since 2018, riding the rally in stay-at-home winners who thrived after Friday’s weaker-than-forecast jobs report.
The Ark Innovation exchange-traded fund (ARKK) rose 1.3% to halt an eight-day slide that wiped almost $5 billion from the ETF’s value. Tesla Inc., the fund’s top holding, rose 1.3%, ending its own four-day drop. Roku Inc., the fourth-biggest member, surged 12%. The ETF is still down 30% from its February peak.