Posted 2/22/2024, 5:42:49 PM
Cathie Wood's ARK Fund Struggles as AI Stocks She Avoided Soar
- Cathie Wood predicted 50% annual economic growth from AI breakthroughs 2 years ago
- Wood's ARK Innovation ETF is missing the AI stock frenzy and is down 8% in 2023
- ARKK has not held shares of Nvidia, AI leader, since early 2023 even as its value grew over $250B
- ARKK's largest holdings like Coinbase and Tesla are down in 2024 as investors pull $769M from the fund
- Wood struggles to keep up in a market where gains are dominated by a few mega-caps she's avoided like Nvidia