Cathie Wood’s Flagship Fund Set for Worst-Ever Month With 26% Drop
- Teladoc, Tesla tumbles lead slump in Wood’s ARK Innovation ETF
- Fed rates, reopening of economies have weighed on holdings
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Cathie Wood’s flagship ARK Innovation fund is headed for its worst-ever month as April goes from bad to worse for the one-time star stock picker.
With a day’s trading to go, the ETF is down 26%, easily eclipsing the previous steepest monthly plunge in January. The fund has declined almost 70% from its all-time high in 2021 after key holdings like Zoom Video Communications Inc. and Teladoc Health Inc. tumbled from their pandemic-inspired records.