During the pandemic-fueled boom of 2020, Cathie Wood's Ark Innovation ETF (NYSE:ARKK) was one of the hottest funds on Wall Street, surging nearly 400% off its March 2020 lows. But that euphoria peaked in February 2021.
As inflation surged and interest rates spiked, ARKK plunged nearly 80% from its highs, battered by collapsing valuations and waning demand for unprofitable growth stocks.
