Cathie Wood’s Flagship ARK ETF Stumbles Most Since March Amid Rout
- ARK Innovation ETF rebounds from 9.1% drop amid market bounce
- Wood’s three largest ETFs have all fallen 22% this year
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Cathie Wood’s flagship ARK Innovation ETF (ticker ARKK) roared back from its biggest drop since March as dip buyers emerged after an ugly three first three hours of trading on Monday.
The exchange-traded fund gained 2.8%, erasing a drop of as much as 9.1%, in a wild session that saw key stocks like Intellia Therapeutics Inc., Beam Therapeutics Inc. and Shopify Inc. stage a mid-afternoon rally. Monday’s volatility marked the latest chapter for the former high-flying, disruptive tech and biotech companies favored by Wood.