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Cathie Wood's ARKK ETF Falls To Lowest Level Since 2017

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Tuesday marked a five-year low for Cathie Wood's ARK Innovation exchange-traded fund.

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ARK Investment managed $50 billion of assets as of February 2021.

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After a period of poor performance, assets dropped to $15.9 Billion by May 2022.

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Tuesday's drop of 0.7% to $31.97 by the fund, known as ARKK and its ticker symbol ARKK was the lowest since August 2017. ARKK is now down 79% from its record high.

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Many investors purchased the dip in Ms. Wood's funds earlier in the year, only for it to be resold, resulting in further losses.

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Recent months have seen a decrease in enthusiasm. According to FactSet, Monday's net outflow of $126 million by investors was the largest since Nov. 30, the biggest outflow since Nov. 30.

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ARK Invest focuses its investment on disruptive technology.

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