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Jim Cramer Says ‘Ark Invest Phenomenon’ Seems To Be Over For Now




CNBC’s Jim Cramer said on Friday that Ark Invest’s stock market influence appears to be waning at least for now.

Ark Invest’s family of exchange-traded funds were among the top performers on Wall Street last year, but did not fare well in 2021 as investors turned away from high-growth stocks to look to the economic recovery .

The host of “Mad Money” said that as funds managed by star fund management firm Cathie Wood struggled, the amount of cash outflows began to rise. This has implications for stocks that are part of ETFs, Cramer said.

“It seems pretty clear that the Ark Invest phenomenon is no longer in play,” Cramer said. “We don’t see any major releases here, but the era of Cathie Wood supporting these stocks with her own buying bazooka, I think it looks like it’s over.”

The reverse was true last year when investors began to notice the performance of the Wood family of funds, Cramer said, causing the company to see a massive wave of influx and new firepower to be deployed on the market. market.

Cramer noted that Ark’s flagship ETF, ARK Innovation, has started to perform better recently as growth stocks have returned in favor. Indeed, the fund is up around 2.4% in the last 5 days, while the S&P 500, by comparison, is down 1.9%.

ARK Innovation also grew by 6% between June 7 and June 11.

“Here’s the gist: When you look at fund flows, Ark Invest is no longer supporting turbocharged growth stocks, which makes their recent rebound much bigger for me,” Cramer said.

“Maybe if this group continues to climb, Cathie Wood can get her bazooka back, but by then the ‘WoodStocks’ will rise or fall on their own.”

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