Business
ARK Innovation ETF Plunges on Tesla, Roku Pullback – Barron’s
ARK Innovation’s losses are mostly due to the pullback in tech stocks, especially in some of its largest holdings.
Investors in the hugely popular
ARK Innovation
exchange-traded fund are having their worst week since March last year. The $27 billion exchange-traded fundknown for its large bets on innovative companies like
Tesla
(ticker: TSLA) and
Roku
(ROKU)tumbled 5.8% on Monday, followed by another 11% plunge in Tuesday morning trading. As of noon, ARK Innovation (ARKK) has recovered some of its earlier losses and is trading about 6.7% lower for the day. Still, the fund is now down 11.5% for the week….
