Cathie Wood Outflows Grow as Diehard Fans Face Biggest Test
- ARK funds are tumbling in 2022 as rising yields hammer tech
- Flagship ETF sees biggest outflow since March in latest data
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The loyalty of Cathie Wood’s legion of fans may be finally waning, as the new year bloodbath in speculative technology stocks hands the star money manager a miserable start to 2022.
Investors pulled $352 million from Wood’s flagship ARK Innovation ETF (ticker ARKK) on Wednesday, according to data compiled by Bloomberg. That was the biggest outflow since March.