Ark’s Wood Says Companies ‘Overreacted’ to Supply Bottlenecks

(Bloomberg) -- Ark Investment Management founder Cathie Wood said that businesses and consumers have “overreacted” to supply chain bottlenecks by increasing inventories while government stimulus was readily available.

Wood said on Twitter late Wednesday that the excesses are likely in industries that technology will disrupt and that fears about inflation may shift more toward concerns about economic growth over the next few months -- a formula she argues will will reward “truly innovative companies” whose equities were “maligned” in 2021.

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