It was a bleak neighborhood for Katie Wood and her innovation funds., but the investor and even Wall Street expect, that some of her assets are growing.
Why growth has stopped?
Rising interest rates and inflation concerns have affected Wood's companies in the past three months. Wood Foundation, ARK Innovation, fell by more than 15% in the third quarter 2021 of the year, resulting in a fall ETF from the beginning of the year amounted to approximately 11%. ARK Innovation by about 31% below its 52-week high.
Tech Shares Traded With The Promise Of Strong Profit Growth In The Future. With rising rates, future potential cash flows become less valuable.
Katie Wood Raises Billions of Equity to Her Own Fund Katie Wood Raises Billions of Equity to Her Own Fund
Some of Wood's stocks plummeted: Berkeley Light $ BLU s and Skillz lost more 50% in the third quarter. Despite, that some of the smaller stocks suffered serious losses in the third quarter, two largest stocks, Tesla and Sea $ SE, have grown.
When Tesla continues to grow?
Tesla is the largest company in the Wood fund and ended the quarter with growth of 14%. Maybe, which is why Wood is cutting its huge stake in the EV maker.
- 28 October Wood sold Tesla shares for about $209 million. Tesla is still the largest holding company in Ark Innovation, which accounts for about 10,1% ETF. Katie Wood's goal is $3000 in five years, at best – about $4000.
Wood speaks often, what is it ok – take profit, to raise funds for the purchase of that, what, in your opinion, will be your next big winner, especially when the market gives you such an opportunity.
