With every new year comes a clean slate. For Cathie Wood’s Ark Invest, that doesn’t seem to be the case.
The firm’s beaten-down Ark Innovation Fund (ARKK) has hit a new low in 2022 — already. After shedding 7% in Wednesday’s sell-off, the fund is down 9% this week so far and 45% from its peak in February 2021, with the decline marking its worst drawdown since inception in 2014.
A rout in growth-oriented stocks that has battered ARKK was made worse on Wednesday as investors mulled the…
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