Cathie Wood's Ark Innovation ETF Underperforms, Sells $8.8 Million in Palantir Stock

Cathie Wood's Ark Investment Management is facing scrutiny as its flagship Ark Innovation ETF (ARKK) underperforms the market. As of April 30, ARKK is down approximately 11.75% year-to-date, while the S&P 500 is down 5.31%. The fund's annualized three-year return is 3.02%, and the five-year return is negative 1.39% as of April 29. Over the past year, ARKK has seen a net outflow of $2.31 billion, with $55.44 million exiting in the last week alone. On April 28 and April 30, Wood's Ark funds sold a combined 75,912 shares of Palantir Technologies Inc. (PLTR), totaling approximately $8.8 million. Wood has expressed concerns that Trump's proposed tariffs could trigger a bear market or recession if not carefully managed. Despite these challenges, Wood remains optimistic about high-tech companies in fields like AI and blockchain.