ARKK Battered by Selloff

Cathie Wood’s flagship ETF – ARK Innovation exchange-traded fund (ARKK) dropped for a seventh straight day Wednesday (2021-05-06) in its longest slide in nearly two and a half years, after surging roughly 150% in 2020.

ARKK outflows over the six-day streak total about $785 million, according to data compiled by Bloomberg. In April, the $21 billion fund saw its first monthly net outflow since October 2019.

Reference

Bloomberg, 2021-05-06, “Cathie Wood’s Ark Battered by Selloff, Worst Run of Outflows”