Cathie Wood of ARK Investment Management believes U.S. equity markets are the polar opposite of what they were in the 90s when investors chased their dreams.
In 2022, financial markets witnessed one of the worst routs in history, dragged by the war in Ukraine, rising inflation and subsequent hawkish policies deployed by central banks.
ETF fund manager Cathie Wood is known for investing in growth stocks and what she has labeled as “innovation.” A take by the fund manager drew criticism from a hedge fund manager.
Cathie Wood-led ARK Investment Management bought over 330,000 shares of clinical-stage biotechnology company Verve Therapeutics Inc (NASDAQ: VERV) at an estimated valuation of over $6.9 million, based on Tuesday’s closing price.
Cathie Wood’s ARK Innovation ETF (ARCA: ARKK) is down roughly 63% year-to-date, compared to the NASDAQ which is down at least 29% year-to-date and the S&P 500 down over 16% year-to-date.