Cathie Wood Says Innovation Stocks Are in ‘Deep Value’ Territory

Cathie Wood, the founder and CEO of Ark Investment Management, said that innovation stocks are in “deep value territory” as Friday trading saw continued declines, with the S&P 500 falling 1%.

“After correcting for nearly 11 months, innovation stocks seem to have entered deep value territory,” she wrote in a blog post she said was intended to share ARK’s thought process. “We take advantage of volatility during corrections and concentrate our portfolios toward our highest conviction stocks.”