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Cathie Wood’s misery is mounting ARKK ETF assets $ 20BN | when the Financial Markets News falls below

Trapped in funds traded in exchange for Wood’s Ark Innovation, it has fallen in nine of its last 10 sessions, a retreat that accelerated on its biggest slide in about seven weeks on Monday.

Cathie Wood’s miserable month continued on Tuesday as the exchange-traded key funds dragged down and her assets fell below $ 20 billion from January to a low.

The Ark Innovation ETF (ticker ARKK) has slipped 1% since 9:47 a.m. in New York. Caught up in the vast array of technology, the product has fallen in nine of its last 10 sessions, with a rapid acceleration in retreat on Monday in the biggest slide in about seven weeks.

Tesla Inc., the largest stake in the fund, fell 3.5% on Tuesday. Teladoc Inc., which also has a strong weight in the ETF, fell by less than 1%.

It’s been a tough turnaround in the shares of expensive-looking tech names for Wood and Ark Investment Management, which so far has raised more than $ 500 million from its main fund in May.

Big bets like Tesla and Bitcoin have attracted billions to Ark’s products, but recently investors like money managers who often like expensive stocks that direct money at companies with unproven technology.

Other speculative corners of the market have also suffered, as the ETF has tracked special purpose acquisition companies by 20% this year.

When the ARKK fell 34% from its peak in February, the activity of the options gives an increasingly bleak picture. The number of low unpaid contracts has risen to a record high. According to data from IHS Markit Ltd., short-term interest rates remain near an all-time high.

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