Barron’s: “Apple Stock and Big Tech Are Winners. Why Cathie Wood’s ARK Is Still a Loser.”

Excerpt from Barron's quoting DataTrek co-founder Jessica Rabe:

Unfortunately, unlike a rising tide lifting all boats, Big Tech’s surge has largely been self-contained. Using Cathie Wood’s ARK Innovation exchange-traded fund (ARKK) as a proxy for the more-speculative basket of tech stocks, DataTrek co-founder Jessica Rabe notes that it “continues to underperform the Nasdaq’s dot-com bubble meltdown during the early 2000s.”

As Rabe writes, today makes 558 days since ARKK’s all-time high in February 2021, and since then the fund has slumped 78%, roughly mirroring the Nasdaq Composite index’s peak-to-trough tumble just over two decades ago: In the 2000-2002 time frame, the index tumbled 69% from its March 2000 high water mark.

However painful that decline, it didn’t mark the end. After day 558 of the Nasdaq’s dot-com implosion, it still fell another 29%. In the end, it would be nearly two and a half years before the Nasdaq found a bottom, in October 2002."

Read the full quotes and article here on Barron's!