BI: "Ark Invest's 54% decline mirrors the trajectory of the Nasdaq as the dot-com bubble burst — and data suggests more downside is coming, DataTrek says"

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BI: "Ark Invest's 54% decline mirrors the trajectory of the Nasdaq as the dot-com bubble burst — and data suggests more downside is coming, DataTrek says"

Excerpt from Business Insider quoting DataTrek co-founder Jessica Rabe:

…. “The 54% decline in Ark Invest’s flagship ETF over the past year looks very similar to the unwind of the Nasdaq during early 2000’s dot-com bust, according to DataTrek Research.

The firm overlaid the performance of ARK Invest’s Disruptive Innovation ETF since its February 12, 2021 peak with the dot-com peak of the Nasdaq on March 10, 2000.

“ARKK has broadly tracked the Nasdaq’s 2000/early 2001 experience. Today marks the 253rd trading day from ARKK’s all-time high and on the same day in 2001 the Nasdaq was down 60% from its dot-com bubble peak. As of today’s close, ARKK is down 54% from February 12, 2021,” DataTrek’s Jessica Rabe said in a Tuesday note”….

Read the full article here on Business Insider!