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

Cathie Wood 
Cathie Wood Photographer: Kyle Grillot/Bloomberg

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.”