Cathie Wood Loves Spotify Stock: Should You Buy Too?

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Since Cathie Wood created Ark Invest in 2014, the fund has averaged annual returns of 31%. The outperformance continued in 2020 with Ark beating 99% of funds and its ARK Innovation ETF becoming the largest actively-managed ETF in the world.

Among the largest holdings in this innovation fund is Spotify Technology (NYSE: SPOT) — a market leader in audio streaming. With this company more than doubling in value in 2020, is it too late to join Wood by investing in Spotify, or is it time to start a position?

Image source: Getty Images.

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