Kathy Wood<\/a>head of Ark Investment Management, has a history of buying stocks shortly after their IPOs.<\/p>\n In recent years, Wood’s Ark funds have invested in newly public companies such as Tempus AI<\/a> (TEM<\/a>), Coinbase (COINS<\/a>), and CoreWeave (CRV<\/a>), reflecting its strategy of early access to high-growth companies in artificial intelligence, cryptocurrency and cloud computing.<\/p>\n Now Wood is doing another IPO<\/a> bid, buying more than $529 million SpaceX<\/a> stock.<\/p>\n Ark Innovation’s flagship ETF gained 35.49% in 2025, well ahead of S&P 500<\/a>return of 17.88% over the same period. But so far this year, Wood’s flagship Ark Innovation ETF<\/a> (LETTER<\/a>) fell 2.85%, while the S&P 500 rose 8.56%, Data from Yahoo Finance<\/a> shows.<\/p>\n Wood gained notoriety after the Ark Innovation ETF returned 153% in 2020. However, her style also brings painful losses in bear markets, as seen in 2022 when the Ark Innovation ETF fell more than 60%.<\/p>\n These fluctuations affected Wood’s long-term success. As of June 12, the Ark Innovation ETF has earned a five-year annualized return -8.06%<\/strong>while S&P 500<\/a> has an annual income 11.84%<\/strong> for the same period, according to data from Morning star<\/a>.<\/p>\n Wood focuses on high-tech companies with artificial intelligence, blockchain<\/a>biomedical technology and robotics. She believes that these businesses have strong growth potential, though theirs volatility<\/a> often causes fluctuations in the funds of the Ark.<\/p>\n According to a Morningstar analyst Bella Albrecht<\/a>two of Wood’s Ark funds were among the worst-performing ETFs in the first quarter of 2026. The Ark Next Generation Online ETF (ARKW<\/a>) ranked second on the list, and the ARK Innovation ETF ranked fifth.<\/p>\n From 2014 to 2024, the Ark Innovation ETF wiped out $7 billion in investor wealth, according to a March 2025 analysis by Morningstar. Amy Arnott<\/a>. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott’s rankings. The analyst did not update his rating.<\/p>\n More SpaceX:<\/strong><\/p>\n Wood said on June 5 episode “in the know”<\/a> that she is keeping a close eye on June 17, when Kevin Warsh<\/a>new Federal Reserve System<\/a> the chairman announces the following decision on the interest rate.<\/p>\n \u201cI believe that Kevin Warsh knows that interest rates have to come down, at least mortgage rates. inflation<\/a> goes down as productivity goes up, no matter how strong the economy is, I think he’s going to cut rates,\u201d Wood said.<\/p>\n<\/p><\/div>\n Cathy Wood expects a “big acceleration” caused by the development of technology<\/strong> <\/h2>\n
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