A wide selloff successful exertion shares is punishing money manager Cathie Wood’s flagship ARK Innovation exchange-traded fund.
The fashionable ETF, which goes by the ticker ARKK and targets fast-growing, “disruptive” companies, fell 5.5% Friday, arsenic exertion stocks staged a crisp pullback. Concerns astir ostentation and the imaginable economical interaction of the caller Omicron variant of the coronavirus knocked down shares of holdings including Tesla Inc. and Robinhood Markets Inc., portion DocuSign Inc. dropped sharply aft a disappointing quarterly net forecast.
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