When markets closed last month, it became official: Cathie Wood’s ARK Innovation ETF (NYSEARCA:ARKK) had scored its best-returning month in its 9-year history.
The 27.8% return in January was a welcome reversal for the struggling fund. The ETF had lost around 80% of its value since 2021.
I’ll admit I’ve long been skeptical of ARK Invest and its investment approach. Yet, even my conservative nature pales to the contempt that Wall Street often heaps onto Ms. Wood and her ETFs.
Seven words from Ms. Wood’s interview with CNBC on Feb. 1 encapsulate the issue: “Our focus is solely on disruptive innovation.”
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