Ace hedge fund manager Cathie Wood’s flagship fund, ARKK Innovation ETF, managed to hold up on November 22, despite record lows in two of its major holdings - Zoom Video Communications (NASDAQ:ZM) and Tesla (NASDAQ:TSLA). Surprisingly, the ARKK ETF remained in positive territory yesterday, even after ZM stock plunged over 10% and TSLA stock marked a new 52-week low of $166.19 in intraday trading. Unfortunately, the ARKK ETF has lost nearly 66% in the past year as technology companies have been weighed down by macroeconomic headwinds. The other three companies forming the top five holdings of the technology-focused fund are video streaming giant Roku (NASDAQ:ROKU) at 7.
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