As interest rates were raised to tame runaway inflation readings, the outlook for those kinds of companies, and by default ARKK, darkened. There was a time when Cathie Woods and her flagship ARKK Innovation ETF (NYSEARCA: ARKK) could do no wrong. Helped in a large way by rock-bottom interest rates and arguably the greatest sense of FOMO the investors have ever felt, shares of ARKK, with large holdings of tech and growth stocks, soared more than 300% in 2020.