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In South Korea, retail investors have dubbed Cathy Wood a “money tree” after the asset management company she manages, Ark Investment Management, raised massive investments.
The assets of the ETF, managed by Ark, topped around $ 50 billion this week, up from $ 3.6 billion at the same time last year, according to data compiled by Bloomberg and seen by Al Arabiya.net .
In 2021 alone, investors injected nearly $ 11 billion into the Wood family of funds.
Wood’s index funds issue standard products that track companies in industries such as genomics and fintech.
Money tree
In South Korea, individual traders are flocking to buy the typical index fund documents, and Cathy Wood has become a celebrity, where she is referred to in social media posts as “”, which roughly translates to “tree. money”.
Its ARK Innovation ETF (ARKK) has already grown 19% this year, plus a 149% increase in 2020.
Due to popular demand, Ark recently launched a group of retail stores that sell clothing. Shows include T-shirts with the phrase “Faith Triumph”, baseball caps with “Be Innovative” and children’s clothing with the phrase “Investing in the Future”.
The allure waned a bit last week as GameStoop hit the headlines and ARKK’s main fund had not received any cash flow for four days, and the sale of trades in the $ 25.4 billion was also increasing.
Even so, recognition of Wood’s name is increasing and his seal of approval is enough to trigger the stock price. DraftKings’ listing in the ARK Next Generation Internet ETF (ARKW) increased the bookmaker’s shares by 8.6% earlier this week.
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