Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during the Milken Institute Global Conference in Beverly Hills, California, US, on Monday, Oct. 18, 2021. The event convenes the best minds in the world to tackle its most urgent challenges and to help realize its most exciting opportunities. Photographer: Kyle Grillot/Bloomberg
(Photo: Bloomberg)
Dusseldorf Tech stocks are currently in demand again. Hardly anyone needed this change of mood more urgently than star investor Cathie Wood. Their flagship fund, ARKK, is down 67 percent from its high in February 2021 to its low on March 14 this year. At times it was more expensive to bet on falling Woods Investments prices with a so-called inverse ETF than to buy their ARKK.
With her investment house Ark, Wood focuses exclusively on disruptive technologies such as electromobility, genomics, fintech, space travel and robotics. However, the majority of these companies are not yet making a profit. In the ARKK, an exchange-traded, actively managed ETF, 26 of the 35 companies held are in deficit over the past 12 months. Shares in these companies have been particularly punished in the market in anticipation of rising interest rates. Because their market value is largely determined by future profits discounted to the present.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
further
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
further