Katie Wood’s funds rose after the report.
Kathy Wood’s flagship fund had its best session on Thursday, as risky assets recovered following a weaker-than-expected inflation report.
After data revealed that prices rose more slowly than anticipated, spurring speculation that the Fed could dial down its aggressive tightening efforts, the Ark Innovation ETF increased 15%, reaching its highest level on record.
Risky assets were weighed down by Fed rate hikes.
Kathy Wood upped her wagers on some of her favorite companies in the days preceding the release of the CPI, including the market leader in electric vehicles Tesla Inc., operator of cryptocurrency exchange Coinbase Global Inc., online broker Robinhood Markets Inc., and software developer Adobe Inc.
The AXS 2X Innovation ETF, which outperformed the Wood fund by two times, soared 28%, the most since it launched earlier this year.
ARKK and ARKF are down more than 60% this year, while ARKG is down roughly 44%.