Cathie Wood Explains Why She Cut Ark's Tesla Holding

The Street2023-11-15

Cathie Wood and Ark Invest have become something of the poster child for Tesla Uber Bulls. Ark has been a prominent investor in the company for years; this year, the firm raised its price target to $2...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Coldastone17
2023-11-15
Coldastone17
Well we all know tis..of she sells..we go opposite. buy!!'

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1132311786?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-11-15 11:07","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1132311786","market":"us","top_or_hot":-1,"title":"Cathie Wood Explains Why She Cut Ark's Tesla Holding","media":"The Street","content":"<div>\n<p>Cathie Wood and Ark Invest have become something of the poster child for Tesla Uber Bulls. Ark has been a prominent investor in the company for years; this year, the firm raised its price target to $2...</p>\n\n<a href=\"https://www.thestreet.com/investing/stocks/cathie-wood-ark-invest-tesla-investor-elon-musk\">Source Link</a>\n\n</div>\n","source":"lsy1610613172068","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Explains Why She Cut Ark's Tesla Holding</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Explains Why She Cut Ark's Tesla Holding\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-15 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/stocks/cathie-wood-ark-invest-tesla-investor-elon-musk><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood and Ark Invest have become something of the poster child for Tesla Uber Bulls. Ark has been a prominent investor in the company for years; this year, the firm raised its price target to $2...</p>\n\n<a href=\"https://www.thestreet.com/investing/stocks/cathie-wood-ark-invest-tesla-investor-elon-musk\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARKK","symbol_name":"ARK Innovation ETF","start_time":0,"source_url":"https://www.thestreet.com/investing/stocks/cathie-wood-ark-invest-tesla-investor-elon-musk","article_id":"1132311786","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1132311786","pubTimestamp":1700017628,"sourceInfo":{"source_id":"lsy1610613172068","name":"The Street"},"weMediaInfo":null,"summary":"Ark Invest has sold more than one million shares of Tesla over the past six months.","collect":0,"end_time":0,"defaultTopTitle":"thestreet.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ARKK":"ARK Innovation ETF","TSLA":"特斯拉"},"translate_title":"凯西·伍德解释了她为什么削减方舟的特斯拉控股","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARKK":1.1,"TSLA":1.1},"content_text":"Cathie Wood and Ark Invest have become something of the poster child for Tesla Uber Bulls. Ark has been a prominent investor in the company for years; this year, the firm raised its price target to $2,000 per share by 2027, an increase of roughly 10 times the stock's current value. The basis of this outlook, according to Ark, has to do with autonomous taxis and artificial intelligence. Ark has said that the currently flailing robotaxi industry will be bringing in around $10 trillion in revenue by 2030 — and the firm thinks Tesla is in the pole position to dominate that market.Still, Ark's holdings are telling a different story than that which Wood keeps selling. Ark's flagship Innovation ETF has sold roughly one million shares of Tesla over the past six months, bringing what was once the firm's top holding to its third-largest holding. Ark Innovation in June owned roughly 3.5 million shares of Tesla, weighted at more than 12% of the fund. As of Nov. 14, the EF owns about 2.6 million shares of Tesla, worth less than $590 million and weighted at 8.5% of the fund. Despite this, Wood's bullishness outwardly remains unchanged. Speaking to CNBC Tuesday, she said that the autonomous taxi industry's biggest hurdle is the quantity and quality of usable training data. Cruise's recent issues are not a concern to Wood, as Tesla's data-gathering fleet is far larger than Cruise's, despite the fact that Tesla's self-driving remains stuck at a Level Two designation. Tesla delivered 435,000 vehicles in the third-quarter, below Street expectations of 455,000. The company's stock fell after earnings on reports of falling gross margins amid an ongoing EV price war.  \"Autonomous taxi platforms are the biggest AI project in the world and therefore we think Tesla is the biggest AI player,\" Wood said. In defense of the firm's recent reduction in its Tesla holding, Wood reiterated that when Tesla shares move up relative to the firm's other holdings, Ark trims its holding and redeploys the profits into other companies. \"It was up about 150% relative to our other names, many of which had not moved,\" Wood said. \"We will always recycle that way.\"Wood said that Ark has not sold much Tesla since that point. She added, however, that the trimming, at least in part, accounted for the macroeconomic concerns that CEO Elon Musk highlighted on Tesla's most recent earnings call. \"I will also say, listening to Elon on the last conference call, he's very concerned about the economy, as we are,\" Wood said. She added that, so long as Ark is \"right on this autonomous taxi opportunity,\" the firm's Tesla holding will remain in the top five in the fund. Electric Vehicles or robotaxisWhile Ark's main thesis for Tesla involves dominance in the currently non-existent robotaxi market, Wood thinks that Tesla will also continue to dominate in the electric vehicle sector.Part of this dominance has to do with a pullback in EVs across the rest of the industry. Both General Motors  (GM) and Ford  (F) have recently announced significant pullbacks in EV investments and delays in their production of coming EV lineups, all to protect profitability. Wood said that these automakers, struggling to find a way to profitably produce EVs, are facing a catch-22: \"They can't be profitable in this space unless they scale. It's a catch-22, and their shareholder base is very ICE-oriented and they want their profits now and they want their dividends now.\"This move, to Wood, represents nothing but an opportunity for Tesla to continue to gain market share in the sector, an opinion that is shared by Deepwater's Gene Munster. Munster said last week that if the mass transition to EVs doesn't take place for another 30 years, the pullback will have been the right approach. But if that transition happens within the next five to 10 years, these legacy automakers will have given \"Tesla a greater lead,\" making it more \"difficult for traditional carmakers to build a profitable EV business.\"Tesla shares, which have been struggling since the company reported weaker-than-expected third-quarter results, have been gaining lately. The stock, up slightly more than 80% for the year, closed the previous session at $223.71 and lifted around 4% after market-open to $232 per share.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":241683903611112,"gmtCreate":1700033264396,"gmtModify":1700033291234,"author":{"id":"3562193648411471","authorId":"3562193648411471","name":"Coldastone17","avatar":"https://community-static.tradeup.com/news/4f1bd3166de45ed68ce52aacd1ca37f1","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Well we all know tis..of she sells..we go opposite. buy!!'","listText":"Well we all know tis..of she sells..we go opposite. buy!!'","text":"Well we all know tis..of she sells..we go opposite. buy!!'","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/241683903611112","repostId":1132311786,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":12,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1132311786"}