Cathie Wood’s flagship ARK Innovation fund is headed for its worst-ever month as April goes from bad to worse for the one-time star stock picker.With a day’s trading to go, the ETF is down 26%, easily eclipsing the previous steepest monthly plunge in January. The fund has declined almost 70% from its all-time high in 2021 after key holdings like Zoom Video Communications Inc. and Teladoc Health Inc. tumbled from their pandemic-inspired records.It’s a dramatic change in fortunes for Wood, whose stock selections surged at the height of the pandemic as a locked-down world embraced virtual birthday parties and online doctor appointments. With many economies returning to normal and the Federal Reserve tightening monetary policy, so-called high-growth companies in ARK Innovation’s basket have plunged.
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