Cathie Wood‘s flagship ARK Innovation ETF (NYSE:ARKK) has been navigating through significant losses, showcasing the challenges faced by some of its major holdings.
What Happened: Since its peak in February 2021, the fund has experienced substantial losses. The ARKK ETF has declined by 72% since its peak on Feb. 19, 2021. During this period, the Nasdaq 100, its primary benchmark, has surged by 39%, reaching record highs. Year-to-date, the ARKK ETF has decreased by 15%, while the Nasdaq 100 has increased by 12%.
Data from Cathie’s Ark, a platform monitoring ARK Invest’s ETFs’ daily trades, reveals that only Tesla Inc (NASDAQ:TSLA), among ARKK’s top 10 stock holdings, has shown a positive return since joining the portfolio. Additionally, out of the 35 stocks held in the portfolio, only seven are currently in positive territory.
These are the ten largest losers within the ARKK ETF, as per data from Cathie’s Ark:
- Ginkgo Bioworks
The initial price of Ginkgo Bioworks Holdings Inc (NYSE:DNA) was $9.99. Its current price stands at $0.66, reflecting a significant percentage change of -93.4%. - Teladoc Health
Teladoc Health Inc (NYSE:TDOC) started at an initial price of $163.91. As of now, its price has dropped to $11.43, indicating a considerable percentage change of -93.0%. - Pacific Biosciences
Pacific Biosciences of California Inc (NASDAQ:PACB) began at an initial price of $19.84. Currently, it is priced at $1.88, showing a substantial percentage change of -90.2%. - 10x Genomics
10X Genomics Inc (NASDAQ:TXG) had an initial price of $153.19. Its current price is $22.67, resulting in a notable percentage change of -85.0%. - Unity Technologies
Unity Software Inc (NYSE:U) started at an initial price of $104.43. It is currently priced at $19.37, indicating a significant percentage change of -81.2%. - Verve Therapeutics
Verve Therapeutics Inc (NASDAQ:VERV) began at an initial price of $28.17. Its current price is $5.25, reflecting a substantial percentage change of -81.0%. - Zoom Video
Zoom Video Communications Inc (NASDAQ:ZM) started at an initial price of $278.55. Its current price stands at $63.12, showing a noticeable percentage change of -77.6%. - Roku
Roku Inc (NASDAQ:ROKU) had an initial price of $243.88. Its current price is $56.67, resulting in a significant percentage change of -77.0%. - UiPath
UiPath Inc (NYSE:PATH) started at an initial price of $62.44. As of now, its price has dropped to $18.98, indicating a considerable percentage change of -69.5%. - Intellia Therapeutics
Intellia Therapeutics Inc (NASDAQ:NTLA) began at an initial price of $62.04. Its current price stands at $24.67, reflecting a significant percentage change of -59.9%.
Why It Matters: Wood’s ARK Invest has been the subject of intense scrutiny in recent months. The firm’s performance has been a topic of debate, with some industry experts expressing skepticism about its investment strategies.
Wood’s views on the stock market have also sparked controversy, with her comparison of the current market to the Great Depression drawing criticism from renowned investor Jim Chanos.
Additionally, her prediction about the significance of crypto in the 2024 White House race has been a point of contention.
Read Next: Here’s How Much MAGA Coin Has Jumped Since The Ex-President Said, ‘If You’re In Favor Of Crypto, You Better Vote For Trump’
Cathie Wood Ark Invest. Image made via photos on Flickr and Shutterstock
This content was partially produced with the help ofBenzinga Neuroand was reviewed and published by Benzinga editors.
