Cathie Wood’s teccentric fund ARKK lost about 55% from it high last year and lost 26.26% YTD. ARKK’s page used to show YTD returns and now the page changed the YTD to 5 year return. She was known for buying the dips. The S&P 500 and Nasdaq Composite Index finished their worst weeks since March 2020.
All three major indexes fell Friday (1/21/2022), ending a MLK holiday shortened four-day trading week. The S&P 500 down 84.79 points, or 1.9%, to 4397.94, while the Dow industrials fell 450 points, or 1.3%, to 34265.37. The teccentric Nasdaq was lost 385.1 points, or 2.7%, to 13768.92. For the week, Nasdaq fell 7.55%, while the S&P 500 dropped 5.7% and the Dow lost 4.6%.
Netflix and Peloton were some of the worst losers as investors flocking away. Netflix lost about 25% after the earnings and Peloton lost about 80% from it’s high as wave of news of increasing the prices, half a billion worth of insider selling and halting production published.