Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks during the Sooner Than You Think conference in the Brooklyn borough of New York on Tuesday, Oct. 16, 2018.
Alex Flynn | Bloomberg | Getty Images
Star fund manager Cathie Wood defended the innovation sector on Tuesday, explaining that the recent weakness in tech stocks will ultimately reverse course and can’t be compared to the bubble top of 2000.
“Many consider what has happened in the last three months to be the beginning of another, or the equivalent of, the tech and telecom bust. We do not believe that’s the case in the least,” Wood said during an Ark Invest webinar on Tuesday.