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ARK Crushed By Concentrated Bet In Teladoc

TheStreet.com

Cathie Wood’s Flagship Ark Fund Slumps

The asset manager Cathie Wood’s flagship fund, Ark Innovation ETF , has dropped big-time, as her focus stocks — disruptive technology companies — have hit the skids. Ark Innovation’s biggest holding, electric-vehicle maker Tesla , has fallen more moderately, 15% year to date. The declines have come amid rising interest rates and the anticipation of more rate hikes from the Federal Reserve.

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