Cathie Wood Doesn’t Need Tesla To Win—ARKK Delivers A Blowout While EV Giant Idles

During the pandemic-fueled boom of 2020, Cathie Wood’s Ark Innovation ETF (NYSE:ARKK) was one of the hottest funds on Wall Street, surging nearly 400% off its March 2020 lows. But that euphoria peaked in February 2021.

As inflation surged and interest rates spiked, ARKK plunged nearly 80% from its highs, battered by collapsing valuations and waning demand for unprofitable growth stocks.

Nowadays, it remains 50% lower than its February 2021 peak, yet the tide appears to be turning.

ARKK has soared 50% in just the last three months, marking its strongest rally since 2021. That’s nearly double what the S&P 500 – as tracked by the Vanguard S&P 500 ETF (NYSE:VOO) – did in the same period.