(Bloomberg) — A day after Cathie Wood described her speculative tech strategy as a “deep-value” portfolio loaded with underpriced companies, another tumultuous trading session is making some big names she owns even cheaper.
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Wood favorites including Roku Inc. and Tesla Inc. were among stocks slumping Friday as part of a broad market selloff, with moves exacerbated by a $2.2 trillion options expiration. Roku plunged 22%, while Tesla fell 2%.
The head of Ark Investment Management said her technology bets are “way undervalued relative to their potential,” in an interview on CNBC Thursday. The companies in traditional benchmarks will be disrupted by innovative technologies and will be where risk lies, she said.
Ark funds have dropped as investors digest high inflation prints and prepare for the Federal Reserve to raise interest rates. The flagship ARK…
