Cathie Wood says her innovation stocks are ‘well undervalued’ and recent fund losses are temporary

Catherine Wood, Managing Director of ARK Investment Management LLC, speaks at the Milken Institute Global Conference in Beverly Hills, Calif., Monday, October 18, 2021.

Kyle Grillot | Bloomberg | Getty Images

Ark Invest’s Cathie Wood said on Thursday that technology companies in its innovation-focused portfolio were significantly undervalued.

“We’ve had a significant decline,” Wood said Thursday in CNBC’s “Halftime Report.” “We believe innovation is in good business territory…Give us five years, we’re running a portfolio of deep value.”

Its flagship ARK Innovation ETF has been caught at the epicenter of tech-driven selling in 2022, down 26% year-to-date.

She said she doesn’t invest in any of these mature Big Tech companies like Microsoft.

This is breaking news. Please check for updates.

cnbc Business

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button