TheStreet.com
Cathie Wood’s Flagship Ark Fund Slumps
The asset manager Cathie Wood’s flagship fund, Ark Innovation ETF , has dropped big-time, as her focus stocks — disruptive technology companies — have hit the skids. Ark Innovation’s biggest holding, electric-vehicle maker Tesla , has fallen more moderately, 15% year to date. The declines have come amid rising interest rates and the anticipation of more rate hikes from the Federal Reserve.