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Cathie Wood’s Grim 2022 Is Over. Next Year Also Looks Bad

  • Analysts have slashed earnings estimates for ARKK’s top stocks
  • Despite dismal returns, ARKK has seen inflows of $1.3 billion
Bloomberg business news
Cathie Wood's Grim Year: Is More Pain Ahead?
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Cathie Wood’s worst-ever year wasn’t even over before the clouds started to gather for 2023.

For the past few weeks, Wall Street has been slashing earnings expectations for some of the biggest holdings of her flagship $5.8 billion ARK Innovation ETF (ticker ARKK) — signaling more pain ahead for a strategy that was hammered throughout 2022 by the most aggressive Federal Reserve tightening in decades.