ARK Invest CEO Cathie Wood thinks both political parties will push for a more conducive environment for innovation.
ARK Invest's Cathie Wood is positioning for a White House administration that embraces transformative technology. The firm's CEO and chief investment officer sees a boom sparked by fewer regulations — no matter who wins the presidential election. "Both candidates have sounded more and more alike," Wood said Tuesday on CNBC's " Fast Money ." "It seems to be a bipartisan issue.
suffered a roughly 67% decline in 2022, the same year that the Federal Reserve embarked on its rate-hiking campaign. Tech companies, like those held in , are especially sensitive to rising rates. "Many people have associated our portfolio with low interest rates. Certainly, algorithmic trading seemed to do that," said Wood. "I think that's going to change." The ETF's top holding right now is Tesla . The stock is virtually flat this year after surging about 102% in 2023. Wood bets that the underperformance is temporary . "This is not an auto stock. Certainly, not a traditional one. It's a robotic stock.
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