Ark Invest's Cathie Wood expects her funds to quadruple over next 5 years

Ark Invest founder and CEO Cathie Wood joins CNBC's 'Squawk Box' to explain why she thinks Ark's funds should be more valuable over the next five years despite a recent dip in tech shares. Wood’s flagship fund, Ark Innovation ETF, is down nearly 15% in 2021 while the S&P 500 is up 25%. "With some of the increased estimates we are now using based on fundamentals, not at all on valuation, we now see a quadrupling over the next five years in our portfolio," Wood tells CNBC.