We might be able to answer our own question about why the fund manager continues to sell large amounts of her Tesla (NASDAQ: TSLA) investment. If we had access to the brilliant brain of Cathie Wood, it would have been possible.
This is not because Wood raves so much about Tesla and Elon Musk, but because the manager of the fund has a $3,000 price goal for the name. It’s not possible that the stupid would sell a stock valued at $750 while it’s on its path to $3,000 right?
These sales are what prompted these questions: Wood sold approximately $266 million in Tesla stock alone this month, spread across all her ETFs. Bloomberg reported Thursday morning that Wood’s ARK Innovation ETFs and ARK Next Generation Internet ETFs have sold more than 81,600 shares of Tesla – a total of $62 million – Wednesday. Her funds have sold over 350,000 Tesla shares so far in September as the automaker’s share price bounces back to $750 per share.
“Our estimation of Tesla’s success is increasing. Their market share is the main reason. It has not fallen from year-end 2017 compared to today,” Wood stated just days ago to Yahoo Finance.
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According to the Yahoo report, her target price for Tesla was $3,000. Wood said that it was wise portfolio management to sell some Teslas last year and to instead invest in other companies. Bloomberg reported that Tesla is still ARK’s largest holding.
What is ARK Innovation ETF and What are its Key Features?
ARK Innovation ETF is a low-cost way of investing in innovation. It focuses on the companies that are making major advances in science and technology, and it’s designed to produce long-term capital gains over time.
The ARK Innovation ETF is an exchange-traded fund (ETF) that invests in global innovation companies. A company qualifies for the ARK Innovation ETF if it has innovative products, processes, or services; if they’re making technological progress; and if they’re able to produce long-term capital gains in an uncertain future. This ETF invests in around 120 companies in a range of sectors: technology, biotechnology, healthcare equipment and supplies, automotive, manufacturing equipment and supplies, semiconductors, and electronics manufacturing equipment, and computer systems design.
3 Reasons Why You Should Consider Investing in ARK Innovation ETF
ARK Innovation ETF has been launched in the market recently. This is a new ETF that aims to invest in companies that are innovating in the field of physical and digital reality, robotics, automation, and artificial intelligence.
The ARK Innovation ETF invests in companies across all sectors of the economy. It is invested in more than 50 stocks with a total amount of approximately $1 billion worth of assets.
Investing in this fund can be beneficial for you because it benefits from the innovation happening across all sectors of the economy.
There are three main reasons why you should consider investing in ARK Innovation ETF:
– This fund has a low expense ratio
– The fund manager is experienced
– The fund manager is long term
In this article, we will see how to buy shares in Ark Innovation ETF. The article will also cover the necessary information for investors to know before selecting investments.
Ark Innovation ETF is a NASDAQ-listed exchange-traded fund, which is a diversified portfolio of companies that invest in high-growth industries such as Robotics and Artificial Intelligence.
Conclusion: What Makes ARK Innovation ETF One of the Best ETFs?
ARK Innovation ETF is one of the best etfs for those who are looking to diversify their portfolio and want to invest in innovation. It has gained considerable popularity over the years, and there are a few reasons why it has become so successful.
One of the most important factors is its low expense ratio which makes it one of the cheapest funds on the market. The fund also invests in small companies that have a lot of potential for growth and produce innovative products that they believe will be used in the future. ARK Innovation ETF is a great way to invest in innovation and ensure that your portfolio is diverse and strong.