New York City | It’s been a tough year for Cathie Wood. And her naysayers are piling on.
The founder of Ark Investment Management, who could seemingly do no wrong during the pandemic run-up in asset values, has seen soaring inflation and elevated interest rates crush her exchange-traded funds this year. The flagship Ark Innovation ETF, once a byword for market-beating returns, has tumbled more than 65 per cent this year because of a bruising sell-off in tech stocks such as Tesla and Zoom Video Communications.
