Star stock picker Cathie Wood of Ark Invest suggested the rally in energy stocks will soon end and reiterated her bullish view on electric vehicle maker Tesla Inc in a webinar on Thursday.
Cathie Wood, Founder, CEO, and CIO of ARK Invest, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David Swanson
Yet the rally energy stocks over the last six months despite the roughly 30% decline in the price of oil suggests that the market is now over-valuing value stocks, she said.The widely-owned Energy Select Sector SPDR Fund
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