WOOD’S ARK ETF SEES 91% OF HOLDINGS TUMBLE IN TECH ROUT

Cathie Wood’s Ark Innovation ETF plunged to a six-month low, with all but five of its 58 holdings retreating in a broad tech selloff. The ARKK exchange-traded fund that makes concentrated bets on tech companies aiming to disrupt industries fell 5.2 per cent Monday, double the loss in the Nasdaq 100 Index. It’s now down more than 30 per cent from its February peak. Hardest hit in the portfolio listed in the fund’s May 7 disclosure were two biotech stocks. Twist Bioscience Corp. was the biggest laggard, plunging more than 17 per cent, its worst one-day performance since Feb. 5. Nanostring Technologies Inc. sank 12 per cent. Tesla Inc., ARKK’S biggest holding, dropped 6.4 per cent. Wood has added to her bets in recent downdrafts, buying Twitter Inc. in three out of five days last week.