Cathie Wood's Ark Innovation ETF rises 10% as tech heavyweights like Tesla and Zoom rally

<p><img src="https://static1.businessinsider.com/image/5fe0fa8fc910a400192e8cc8-2000/ark invest_5.png" border="0" alt="Cathie Wood" style="display: block; margin-left: auto; margin-right: auto;" data-mce-source="ARK Invest" data-mce-caption="Cathie Wood is the CEO and chief investment officer of ARK Invest, which runs three of the highest-returning stock ETFs of the last three years."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li aria-level="1"><strong>Cathie Wood's flagship <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040'utm_source=markets&amp;utm_medium=ingest">ARK Innovation ETF</a> rebounded on Tuesday with a 10% gain.</strong></li><li aria-level="1"><strong>Tech heavyweights rallied following a steep selloff in the previous session as US bond yields retreated.</strong></li><li aria-level="1"><strong>ARKK was buoyed by the rise in <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, its biggest holding, which soared as much as 17%.&nbsp;</strong></li><li aria-level="1"><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</strong></li></ul><hr><p>Cathie Wood's <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040'utm_source=markets&amp;utm_medium=ingest">ARK Innovation ETF (ARKK)</a> rebounded on Tuesday by rising 10% as tech heavyweights rallied following a steep selloff in the previous session. US bond yields retreated, prompting the respite in megacap tech weakness.</p><p>The flagship exchange-traded fund of Wood was buoyed by the rise in <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, its biggest holding, which soared as much as 17%. <a href="https://markets.businessinsider.com/stocks/nvta-stock">Invitae</a>, another top holding, rose 15% at intraday highs, while <a href="https://markets.businessinsider.com/stocks/zm-stock">Zoom</a> and <a href="https://markets.businessinsider.com/stocks/pltr-stock">Palantir</a> joined the upswing, both jumping more than 7%.&nbsp;</p><p>The rebound in the tech-heavy Nasdaqwhich closed in correction territory on Mondaywas propelled by stabilizing bond yields.</p><p>Wood has seen her fund decline in recent weeks. ARKK lost&nbsp;<a href="https://www.cnbc.com/2021/03/09/cathie-woods-ark-innovation-fund-is-set-for-a-big-rebound-tuesday-as-tesla-other-tech-darlings-pop.html">5.8% on Monday alone</a>, extending its decline from recent highs to 22%. Still, the Ark Investment Management founder and CEO said she remains confident in her strategies.</p><p>"Right now the market is broadening out and we think in an underlying sense the bull market is strengthening and that will play to our benefit over the longer term," Wood <a href="https://www.cnbc.com/2021/03/09/cathie-woods-ark-innovation-fund-is-set-for-a-big-rebound-tuesday-as-tesla-other-tech-darlings-pop.html">told CNBC</a>.&nbsp; "We are getting great opportunities."</p><p>Wood, often called a star stock picker, <a href="https://www.businessinsider.com/cathie-wood-profile-ark-invest-etf-rise-success-following-tesla-2021-2'r=ark-teaser'utm_source=markets&amp;utm_medium=ingest">rose to prominence in 2020</a> after making hugely successful bets on fast-growing companies such as Tesla.</p><p><a href="https://markets.businessinsider.com/news/stocks/cathie-wood-ark-innovation-etf-arkk-tesla-zoom-price-tech-2021-3-1030165458#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-parasite-delivered-one-of-the-best-twists-in-cinema-2020-2">What makes 'Parasite' so shocking is the twist that happens in a 10-minute sequence</a></p>
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