NEW YORK, NY / ACCESSWIRE / February 1, 2024 / National investment loss lawyers KlaymanToskes is investigating brokerage firms and brokers/investment advisors who may have unsuitably recommended ARK Innovation ETF (NYSEARCA:ARKK) to their customers, following the stock’s price drop of over 70% from its all-time high, and continued decline. Investors who suffered losses due to their broker/financial advisor’s unsuitable investment recommendations and/or overconcentration of investments in ARK Exchange Traded Funds should immediately contact KlaymanToskes at (888) 997-9956.
ARK Innovation ETF (ARKK) is a complex, structured note offering, designed and managed by ARK Invest, which has significantly underperformed the broad market and lost significant value over the past several years. In 2023, the Fund experienced a substantial decline, ending the year with a stock price of $52.37 per share, 67% below its all-time high of $156.58 per share.
ARKK’s stock price has continued to decline, and currently trades around $46 per share, representing an additional 12% decline since the beginning of this year, and a 70% total decline from its all-time high. The Fund also exhibits a notable concentration in its holdings, with 10 companies representing nearly half of its investments. Consequently, ARKK’s limited diversification may render it more susceptible to volatility, potentially magnifying losses for investors compared to more diversified investments.
Brokerage firms and financial professionals that recommended investments in ARK Innovation ETF (ARKK) may be liable for any investment losses incurred by their customers. Brokerage firms have a duty to ensure that their customers are not concentrated in any one investment product or market sector. In addition, brokers and their firms also have a responsibility to provide customers with diversification and risk-management strategies to protect concentrated and/or margined positions.
If you suffered investment losses in ARK Innovation or other ARK Exchange Traded Funds due to your brokerage firm or financial advisor, contact attorney Lawrence L. Klayman at (888) 997-9956 or firstname.lastname@example.org for a free consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
SOURCE: KlaymanToskes, P.A.