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Cathie Wood’s ARK Innovation ETF falls to new low for the year

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Cathie Wood’s flagship fund Ark Innovation hit its lowest point of the year on Monday amid further selling in innovation stocks.

Ark Innovation‘s drop of as much as 5% on Monday dragged the “disruptive innovation” ETF below its March low, a level that many investors are watching as a barometer for the larger tech sector.

Ark Innovation is now nearly 35% off its most recent high: $159.70 on Feb. 16.

Wood’s core ETF is now down nearly 13% this month and more than 15% year to date.

Some of Ark Innovation’s top holdings took big hits on Monday as the Nasdaq Composite dropped as much as 1.5%. Tesla fell 4% and Teladoc Health dropped 4.6%. Square and Roku fell nearly 6% and 3%,…



Source cnbc.com

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