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Stock impact report

Cathie Wood says her ‘volatile' ARK Innovation fund shouldn't be a ‘huge slice of any portfolio' [CNBC]

Intellia Therapeutics, Inc. (NTLA) 
Last intellia therapeutics, inc. earnings: 2/27 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: ir.intelliatx.com/investor-overview
Company Research Source: CNBC
“We have a volatile fund,” she told CNBC's “ Squawk Box ” on Friday. “We should not be a huge slice of any portfolio. We are more of a satellite strategy now, although we think this is the way the world is going.” Shares of the technology fund have lost near two thirds of their value from their pandemic heyday, when market excitement and the meme stock craze drove shares to nearly $160 and led the fund to more than double in 2020, soaring 149%. Since then, the fund has underperformed, fueling skepticism over the Ark Invest CEO's investment strategies. Shares are up 2.8% this year, far behind the S&P 500's 24% gain, and over the past three years have lost about 23% annually, according to FactSet data. Wood acknowledged that several “interesting behaviors” during the Covid-19 pandemic sent ARKK shares higher, but asserted that many of the technologies and research underpinning her firm's investments are “much more advanced.” She called out the multiomics life sciences and healt Show less Read more
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