This ARK Invest Stock Is Selling Off -- Is It a Buy?
Popular investment management firm Ark Invest is home to nine different exchange-traded funds (ETFs), all designed to craft exposure to various trends. The largest of these ETFs is the ARK Innovation ETF (NYSEMKT: ARKK), which touts more than $18 billion in assets. Due to its sheer size, the performance of this fund can often closely resemble the performance of the underlying stocks in its portfolio. And one of those stocks is Spotify (NYSE: SPOT).
With the ARK Innovation ETF now down roughly 40.8% from its 52-week highs set in February, Spotify has seen a similar decline -- down 41.7% during roughly the same time period. But while the stock has sold off, the company has continuously delivered strong financial performance. Let's see why this recent weakness could present a good buying opportunity for investors.
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Source Fool.com
