Cathie Wood’s Ark Invest funds, which slid while investors flocked to value stocks earlier this year, staged a comeback last week in what could be a turning point for the innovation fund.
Ark Invest’s flagship ETF — ARK Innovation — notched a 6% gain last week, as investors shrugged off inflation fears and interest rates continued to come down (the 10-year Treasury was below 1.43% on Friday, a three-month low). The innovation fund is up 16.7% over the last month, which could mark a critical moment for the battered ETF.
