This has been a lousy year for innovation-heavy growth stocks. Cathie Wood's flagship fund, the Ark Innovation ETF is down about 60% since the end of 2021 and many of its components have fallen even further. Growth stocks have been tanking because it's easier to focus on potential future cash flows and ignore present-day losses when fresh injections of capital are easy to come by.
AMN vs. DOCS: Which Stock Is the Better Value Option?
These relatively reliable healthcare businesses are performing much better than their beaten-down stock prices would suggest.