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Ark Picks Advance While JPMorgan Predicts ‘Short Squeeze Rally’

Tesla Inc. and online health-care company Teladoc Inc. defied a market slump to rally on Friday, helping give a brief respite to Cathie Wood’s battered funds. 

Nine of the top 10 holdings in Wood’s flagship fund, including Tesla, Teladoc and Zoom Video Communications Inc. climbed on Friday, driving the ARK Innovation ETF or ARKK up 5.7%. The fund is still down more than 20% this year with only Tesla and Intellia Therapeutics Inc. among those 10 that are on track to end 2021 higher.