A January rebound for beaten-down tech shares made for the best month on record for Cathie Wood's flagship fund.
A January rebound for beaten-down tech shares made for the best month on record for Cathie Wood’s flagship fund.
The ARK Innovation exchange-traded fund ARKK rose 27.8% in January, its best monthly performance on record, according to Dow Jones Market Data. The bounce comes after the high-profile and formerly highflying fund suffered a 67% drop in 2022 and a 21% drop in 2021. Bond yields have pulled back to begin 2023. While the Fed is expected to deliver another rate increase on Wednesday, the central bank is seen downsizing the increase to a quarter of a percentage point after delivering a series of outsize hikes last year.
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