Cathie Wood says her innovation stocks are ‘way undervalued’ and recent fund losses temporary
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Catherine Wood is chief executive officer at ARK Investment Management LLC. She spoke during Monday’s Milken Institute Global Conference, Beverly Hills (California), Oct. 18, 2021.
Kyle Grillot – Bloomberg | Bloomberg | Getty Images
Ark Invest’s Cathie Wood said that Thursday’s technology-focused portfolio companies are severely undervalued.
Wood spoke on Thursday at CNBC that “we’ve experienced a substantial decline.” “Halftime Report.”We believe that innovation lies in bargain basement territory. Give us five more years and we will have a rich portfolio of value.”
Her flagship fund ARK Innovation ETF was caught in the epicenter of tech-driven sell-off in 2022, down 26% year to date.
She stated that she does not invest in mature Big Tech companies such as Microsoft.
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