As Ark’s flagship fund plunges 76% from its peak, Cathie Wood still views her stocks as residing in ‘deep value territory’

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In a Wednesday tweet, the chief executive of ARK Investment Management was leaning into the notion that Ark’s beaten-down suite of disruptive technology stocks represent a massive value opportunity to would-be investors.

“Genomic sequencing, adaptive robotics, energy storage, AI, and blockchain technology are realities, their stocks seemingly in deep value territory,” she tweeted,

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Still, ARK’s stock-market bets on disruptive innovation have tanked this year, even as the founder maintains that fundamentals, for the most part, have “not deteriorated.” 

Wood’s Wednesday tweet comes as shares of the ARK Innovation ETF ARKK, -10.10%, her flagship fund, are down more than 76%, as of Wednesday’s close.

Despite Wood’s conviction, investors seem to he heading for the hills, leaving the market in a state of disarray, with fears that the carnage being wrought in the Nasdaq, S&P 500 and Dow Jones Industrial Average DJIA, -1.02% may still be too early to safely sift through for buying opportunities.

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Earlier in the week, Wood tweeted her opinion that companies like Zoom Video Communications ZM, -6.48%, which also has been pounded among a protracted repricing of once-high-flying names, would be one of the prime beneficiaries of the first “rip and replace” cycle since the early 1990s in the global communications space.

But so far, this year, investors aren’t buying into Wood’s thesis.