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.
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