Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks during the Sooner Than You Think conference in the Brooklyn borough of New York on Tuesday, Oct. 16, 2018.
Alex Flynn | Bloomberg | Getty Images
Popular fund manger Cathie Wood’s ETFs have been on shaky ground this year, but Wall Street analysts see the prospects improving for a bunch of her funds’ holdings.
Shares of Wood’s flagship ARK Innovation are down more than 12% this year amid a rotation from growth stocks into value. The fear of rising interest rates in the first quarter and concerns about inflation this quarter have spurred weakness in Wood’s top holdings, especially the high profile names like Tesla and Teladoc.
Nearly $7 billion flowed out of ARK Innovation in 2021, according to FactSet.
All of Wood’s other major ETFs, except ARK Autonomous Technology & Robotics, are in the red for the year. ARK Next Generation Internet ETF is down nearly 8% and ARK Genomic Revolution is down nearly 15%. ARK Fintech Innovation ETF has lost roughly 1.5% this year.
However, lately some of the selling has stabilized, indicating a bottom could be in the cards for some of these innovation names.
CNBC PRO screened for the Ark Invest-owned stocks that have the best chance of roaring back from their recent weakness, according to Wall Street analysts.