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Cathie Wood’s Ark Invest posts 6% weekly gain amid turnaround in innovation names

Cathie Wood

Source: CNBC

Cathie Wood’s Ark Invest funds, which slid while investors flocked to value stocks earlier this year, staged a comeback last week in what could be a turning point for the innovation fund.

Ark Invest’s flagship ETF — ARK Innovation — notched a 6% gain last week, as investors shrugged off inflation fears and interest rates continued to come down (the 10-year Treasury was below 1.43% on Friday, a three-month low). The innovation fund is up 16.7% over the last month, which could mark a critical moment for the battered ETF.

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