Cathie Wood's ARKK Wagers Overshadow Tesla's 45% Surge This Year
- ARKK nursing 2021 losses as EV maker soars to all-time high
- Biotech, stay-at-home holdings pressuring Wood’s flagship fund
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Cathie Wood’s flagship fund is still underwater for the year, even as its top holding soars to an all-time high.
Tesla Inc., which comprises about 10% of the $21 billion ARK Innovation ETF (ARKK), surged to another record. The Elon Musk-led carmaker has been on a tear amid a global shift to electric vehicles, with its stock surging almost 45% in 2021. While the rally helped lift ARKK on Monday, the exchange-traded fund is still lower by about 2% in 2021 as some big names in the portfolio struggle.