Business Insider: “ARK Invest’s flagship fund is outpacing the decline seen during the dot-com bubble burst and a long-term recovery will be difficult for 2 reasons”By admin_45 in IN THE NEWS
Excerpt from Business Insider quoting DataTrek co-founder Jessica Rabe:
.... "ARK Invest's flagship fund fell to a new 52-week low on Tuesday, and the decline could get worse from here for two big reasons, DataTrek Research said in a Wednesday note.
In the 419 days since its all-time high, the ARK Invest's Disruptive Innovation ETF has fallen 77%. That's compared to a decline of 64% for the Nasdaq 100 in the 419 days removed from its March 10, 2000 peak. The Nasdaq 100 ultimately continued its decline for another 280 days and saw a peak-to-trough decline of 78%.
The comparative performance data gives DataTrek co-founder Jessica Rabe reason to believe that Ark Invest's flagship fund has yet to find a bottom and could continue its decline. A replication of the Nasdaq's painful 78% decline would send the Ark Invest ETF to $34, which represents another 5% potential downside. ARK's ETF closed at $35.65 on Tuesday"....
Full article here on Business Insider.