Cathie Wood’s ARK portfolio is headed for a shipwreck—and plunging tech stocks aren’t even the worst of it

Wood’s been suffering because she’s not only on the wrong side of the trend but also dangerously leveraged to the riskiest and most glamorous of the go-go stocks, from Tesla to Coinbase to Robinhood.

“This is extreme loading of growth versus value,” says Cordell Eminent Scholar Jay Ritter, the University of Florida economist who’s the nation’s leading expert on IPOs.

Read more of Ritter’s insights in this story from Fortune.