ARK Crushed By Concentrated Bet In Teladoc

ARK Crushed By Concentrated Bet In Teladoc

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.

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