Wood's flagship Ark Innovation ETF jumped over 3% on Tuesday, bringing its January return to more than 27%. The fund is slated for its strongest month ever since its inception in 2014. Leading the 2023 rally were the largest laggards of last year, including Coinbase, which has skyrocketed about 66% year to date. Shopify , Tesla , Exact Sciences , Roku and Nvidia have all rallied more than 30% this year. The big rebound came after a brutal year in which ARKK lost 67% as interest rates rose.
"A recession is much worse for value and cyclical sectors than it is for growth oriented sectors and innovation being at the lead there," Wood said. Muted flows Despite the dramatic rebound, the innovation-focused fund didn't see big inflows in the new year — only $2 million in new money for the fund with more than $7 billion assets under management, according to FactSet.
BFD! Everybody's a genius in a bull market and this just as well be one market has been up 5 of 7 months back to july
You're telling me this isn't Skrillex
If you lose 50%, then you have to make 100% to breakeven. That's kind of where we're at w/ $ARKK.
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