Tech Boom on the Horizon, No Matter Who Wins the Election

ARK Invest's CEO, Cathie Wood, is confident that the next U. S. president will be friendly to tech innovation, regardless of whether it's Trump or Harris. She sees a coming boom due to reduced regulations, a view shared by both candidates, according to Wood. The firm's ARK Innovation ETF (ARKK) is up 22% over the past three months, despite a disappointing year so far. The ETF, which includes stocks like Tesla, has faltered under rising rates.Wood expects this trend to reverse, as she sees companies like Tesla as part of a larger robotic and AI revolution, not just auto stocks. Similarly, her ARK Genomic Revolution ETF (ARKG) focuses on AI in health care, with companies like CRISPR Therapeutics and Beam Therapeutics leading the way. Wood is optimistic that real cures for diseases are on the horizon.