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Cathie Wood’s Ark Innovation Fund rebounds 7% Tuesday as Tesla, other tech darlings pop

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Cathie Wood, CEO and founder of ARK Invest.

CNBC

Widely followed investor Cathie Wood recouped some of her recent sharp losses as tech stocks rebounded Tuesday after a brutal correction triggered by surging bond yields.

Wood’s flagship active exchange-traded fund Ark Innovation ETF (ARKK) climbed 7% on Tuesday. Tesla, the fund’s biggest holding, is up 6.8% in morning trading. Among other holdings, Zoom Video is up 5.4%, while Palantir gained 4.5%.

Another big holding Invitae is up 8.6% Tuesday. She told CNBC on Monday that the company, which operates in the molecular diagnostics space, is one of the firm’s most under-appreciated holdings.

The rebound in ‘ARKK’ came amid a 2.5% jump in the…



Source cnbc.com

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