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 ETF — 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 in fund flows have left 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.
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May 26, 2021 at 09:20PM
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Cathie Wood stocks that Wall Street believes can roar back - CNBC
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