Hey Everyone,
Given the 2022 stock market correction with the NASDAQ going down 12% in September, 2022 alone, I wanted to take a look at some of Cathie Wood’s top ARK Invest picks and how they have done year to date, or YTD.
This is for my amusement as well.
Keep in mind, the NASDAQ composite is down 33.20% YTD in 2022.
We always knew Cathie Wood liked to gamble on speculative “innovative” companies, but as investors raced for the exits, her favored stocks likely got hit harder than they ordinarily would of:
Unfortunately her ETFs are weighted to her favorite stocks, and not balanced in a rational way. Remember, Tesla’s outrageous valuation hasn’t even corrected yet. So these numbers don’t reflect Tesla’s fall from grace quite yet. Still the list is pretty epic, even though I like what some of these companies actually do.
Honestly when an innovative company has a stock down over 75% in a short period, we are tempted to do our due diligence on its actual growth given a long-term time frame. The problem is not all of Cathie Wood’s prefered picks are rational or exist in TAMs where real-world competition will allow them to flourish moving forwards.
So let’s see the list:
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