Why Cathie Wood’s once hot Ark Innovation ETF has lost all its 2021 gains

What goes up in the stock market inevitably goes down, and that includes one of the hottest ETFs of 2020.

Cathie Wood — a money manager who rose to notable fame in 2020 with bold bets on Tesla (TSLA) and other hot tech names — saw her flagship Ark Innovation ETF lose all of its gains for 2021 on Thursday. The ETF shed 5.5% in heavy afternoon trading Thursday, which brings its year-to-date decline to a similar amount.

In 2020, the ETF skyrocketed nearly 150%.

The pullback for the much…


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