Well-known investor Cathie Wood: Innovative stocks are in the "deep value" area

Cathie Wood, founder and CEO of Ark Investment Management, said that as the U.S. stock market continued to fall last Friday, the S&P 500 index fell 1%, and innovative stocks were in a "deep value area."

"After nearly 11 months of adjustment, innovative stocks seem to have entered the deep value area," she wrote in a blog post. In it, she expressed that she wanted to share the thought process of ARK. "We use volatility during the adjustment period and focus our portfolio on stocks with the highest confidence."

Despite recent volatility and overall risks, Wood said that Ark continues to focus on five years of investment time, adding that the inflow of funds this year has greatly exceeded the outflow of funds.

Article excerpted from the US Stock Research Agency