The flagship ARK Innovation Fund of Cathie Wood is down more than 57% so far this year. Her portfolio, which includes well-known companies like Amazon, Tesla, and Sea Limited, has a significant amount of equities that are declining billion-dollar losses for her clients as a result of her growth-focused investing approach. The head of ARK Investment stated that the US economy was in a recession and that she may have “underestimated the severity and persistent force of inflation.” Wood attributed the higher-than-anticipated rate of inflation to “disruptions in the supply chain and geopolitical uncertainties.”
Insider Monkey highlights Cathie Wood’s 10 worst-performing stock picks. A video communications platform is owned and operated by Zoom Video Communications, Inc. At the end of the first quarter of 2022, ARK owned 8.4 million shares worth $986 million, accounting for 4.18 percent of the portfolio. At the end of the first quarter of 2022, ARK owned roughly 612,000 shares of Palantir Technologies Inc. worth $8.4 million, or 0.03 percent of the stock. Analyst Gabriela Borges of Goldman Sachs began covering PLTR with a Neutral rating and a $10 price target. An online gambling and entertainment company is called DraftKings Inc. At the end of March 2022, the Wood-chaired hedge fund had over 23 million shares of DraftKings valued at $455 million, or 1.90 percent of the portfolio. Robotic process automation is provided by UiPath Inc. On June 1, the company released its first-quarter 2022 financial results, revealing $245 million in revenue. Investors favor companies that generate more free cash flow and have higher valuation indicators. At the end of March 2022, ARK had about 2.6 million shares of StoneCo Ltd. worth $31 million, or 0.13 percent of the overall portfolio. The company reported earnings for the first quarter of 2022 and more than R$2 billion in revenue. For more details, click Cathie Wood’s Latest Thoughts On Inflation And Her 10 Worst-Performing Stock Picks.
