Ark’s Cathie Wood Continues to Stumble

It’s been a tough 2022 for famed wealth manager Cathie Wood, chief executive of Ark Investment Management, as her exchange-traded funds plummet.

Wood’s flagship fund Ark Innovation ETF (ARKK) , plummeted 64% year-to-date through Oct. 14 to hit a five-year low. Ark Innovation is down 79% from its February 2021 record high.

Rising interest rates and sluggish economic growth have hurt young, “disruptive” (as she describes them) technology companies. Rising interest rates are hurting them because their income stream (if any) will be reduced while safe government bond yields are now rising.


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