![]() While the Wednesday flow is small compared to ARK assets overall - its nine ETFs still boast about US$25 billion - it marks a potential turning point for an investor base that until now has barely wavered in its support for Wood and the firm she founded in 2014. in New York as the sector managed to stabilize in Friday trading. got caught in the tech-share rout.ĪRKK was edging higher as of 10:13 a.m. ARK Investment Management’s main exchange-traded fund dropped more than 15 per cent since the start of the year through Thursday as top holdings like Roku Inc., Zoom Video Communications Inc. The withdrawals come as ARKK languishes at the lowest in about 18 months. That was the biggest outflow since March. Investors pulled US$352 million from Wood’s flagship ARK Innovation ETF (ticker ARKK) on Wednesday, according to data compiled by Bloomberg. The loyalty of Cathie Wood’s legion of fans may be finally waning, as the new year bloodbath in speculative technology stocks hands the star money manager a miserable start to 2022.
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