Cathie Wood’s popular Ark funds are sinking fast

Cathie Wood’s funds are concentrated in a handful of stocks. (Image: WSJ)

Thu, 25 Apr 2024

By Jack Pitcher Cathie Wood ’s investors are jumping ship.They rushed into her funds and won big during the pandemic when the star fund manager became a social-media sensation by making bold bets on disruptive technology stocks such as Tesla, Zoom Video Communications and Roku. They largely stuck with her when the funds’ fortunes reversed after the Federal Reserve raised interest rates. Now, after years of bruising losses, many of them have had enough.Investors have pulled a net US$2.2 billion (NZ$3.7b) from the six active...

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