Cathie Wood’s ARK Innovation ETF has soared 28%! Is ARKK’s crash over?

$ARK Innovation ETF(ARKK.US)$ Cathie Wood’s reputation was made in three outstanding years: 2017, 2019, and 2020. But this exceptional investment performance mostly occurred during the Covid-19 crisis. During 2020-21, as US tech stocks soared to record heights, conventional investment wisdom (based on fundamentals) went out of the window. And as the ‘pandemic panic’ receded, sanity was eventually restored. This led to many highly valued stocks — and the ARK Innovation ETF — slumping dramatically over the past 12 months.
For now, the worst may be over for owners of ARK Innovation ETF shares. At their 2022 low, they slumped to just $51.85 on 14 March. Nine days later, they have leapt by more than a quarter (+27.5%).
That’s a big jump in a short time, but is it sustainable in the long run?
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