Cathie Wood, the founder and CEO of ARK Investment Management, said she wasn't worried about the recent drop in her funds, particularly ARK Innovation, which has fallen for three straight weeks. In fact, she said she's capitalizing on the selloff.
“Right now the market is broadening out and we think in an underlying sense the bull market is strengthening and that will play to our benefit over the longer term,” Wood told CNBC.
A broadening market “is good news,” she told Bloomberg in a separate interview. “We keep our eye on the prize. We have a five-year time horizon.”
Jeff Marks, senior portfolio analyst with Jim Cramer's Action Alerts PLUS, weighs in on Cathie Wood's comments.
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