Cathie Wood’s Ark Rebounds: A Dead-Cat Bounce?

Is it just a dead-cat bounce or the sign of something bigger? 

Renowned investor Cathie Wood’s flagship Ark Innovation ETF  (ARKK) – Get ARK Innovation ETF Report is on the rebound. It has bounced back 24% from its May 12 intraday low. 

The fund remains off 54% year to date and off 73% from its February 2021 high.

In the past few weeks Wood’s disruptive technology stocks have rebounded in sync with other stocks. The tech-heavy Nasdaq Composite has climbed 10% from its May 20 intraday low.

But many experts don’t expect the rally to last. Wood’s choices –- and other tech stocks — have been hammered by rising interest rates. And the Federal Reserve is poised to lift rates further.

Source: https://www.thestreet.com/investing/cathie-wood-ark-innovation-bounceback?puc=yahoo&cm_ven=YAHOO&yptr=yahoo