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2023-06-19

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Cathie Wood Sold More Tesla Stock. She Might Not Be Done

ARK Invest’s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16

Cathie Wood Sold More Tesla Stock. She Might Not Be Done

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":188848368373904,"tweetId":"188848368373904","gmtCreate":1687131082081,"gmtModify":1687131086111,"author":{"id":3575623667775567,"idStr":"3575623667775567","authorId":3575623667775567,"authorIdStr":"3575623667775567","name":"Chris_Lim","avatar":"https://static.tigerbbs.com/1fff3f13d12b7abd8db1922971d020c8","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":1,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Great ariticle, would you like to share it?</p></body></html>","htmlText":"<html><head></head><body><p>Great ariticle, would you like to share it?</p></body></html>","text":"Great ariticle, would you like to share it?","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/188848368373904","repostId":2344174780,"repostType":2,"repost":{"id":"2344174780","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"media_name":"Dow Jones","id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1687130462,"share":"https://www.laohu8.com/m/news/2344174780?lang=&edition=full","pubTime":"2023-06-19 07:21","market":"us","language":"en","title":"Cathie Wood Sold More Tesla Stock. She Might Not Be Done","url":"https://stock-news.laohu8.com/highlight/detail?id=2344174780","media":"Dow Jones","summary":"ARK Invest’s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16","content":"<html><head></head><body><p style=\"text-align: start;\">ARK Invest’s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by Cathie Wood disclosed on Friday evening.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81b911762573fcd086b1442c1b3740f1\" alt=\"Cathie Wood’s ARK Invest sold more Tesla stock on Friday. That’s twice in a week.\" title=\"Cathie Wood’s ARK Invest sold more Tesla stock on Friday. That’s twice in a week.\" tg-width=\"639\" tg-height=\"426\"/><span>Cathie Wood’s ARK Invest sold more Tesla stock on Friday. That’s twice in a week.</span></p><p style=\"text-align: start;\">The news of Friday’s stock sale comes after ARK Invest offloaded about 393,000 shares of Tesla (ticker: TSLA) worth almost $100 million from the Innovation ETF (ARKK) and two other funds on Monday.</p><p>ARK didn’t respond to a request for comment about Monday’s sales, and the company didn’t respond immediately to a request for comment over the holiday weekend about Friday’s sales.</p><p>But Wood might be selling because of Tesla’s recent success: Shares are up almost 50% over the past month, crushing the 10% and 6% comparable, respective gains of the Nasdaq Composite and S&amp;P 500. Tesla stock’s run has helped push the Innovation ETF up about 15% over the past month, too.</p><p>It’s unlikely that Wood is taking profits or that she believes Tesla shares are fully valued. ARK’s published price target for Tesla stock is $2,000 by 2027, up almost eight-fold from Friday’s close—which works out to an average annual gain of about 66% between now and the middle of 2027.</p><p>The problem is more likely structural: Tesla stock comprises more than 11% of the Innovation ETF’s portfolio. Practically speaking,10% seems to be a rule of thumb for ARK: When things get above a certain percentage of the portfolio, the company trims. ARK may not be done selling, since Tesla’s stock price performance has pushed it beyond 11% of the innovation ETF.</p><p>While the Securities and Exchange Commission and the Internal Revenue Service have rules about how big one position should be in a diversified investment vehicle, those don’t seem to be at play here.</p><p>Diversification cuts volatility down and gives investors exposure to multiple stocks. ARK’s Innovation ETF, however, is relatively concentrated. The top 10 positions in the fund, which only holds 30 stocks, account for about 62% of the total portfolio.</p><p>Compare that to the Vanguard Total Stock Market ETF (VTI), which holds 3,883 stocks. Its top 10 holdings, including two classes of Alphabet (GOOGL) stock, account for about 28% of total assets.</p><p>Still, there can be limits to any fund’s concentration—which means that great performance from a stock can generate selling pressure on its position in a fund.</p></body></html>","collect":0,"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 Sold More Tesla Stock. She Might Not Be Done</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 Sold More Tesla Stock. She Might Not Be Done\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1012688067\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-06-19 07:21</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: start;\">ARK Invest’s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by Cathie Wood disclosed on Friday evening.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81b911762573fcd086b1442c1b3740f1\" alt=\"Cathie Wood’s ARK Invest sold more Tesla stock on Friday. That’s twice in a week.\" title=\"Cathie Wood’s ARK Invest sold more Tesla stock on Friday. That’s twice in a week.\" tg-width=\"639\" tg-height=\"426\"/><span>Cathie Wood’s ARK Invest sold more Tesla stock on Friday. That’s twice in a week.</span></p><p style=\"text-align: start;\">The news of Friday’s stock sale comes after ARK Invest offloaded about 393,000 shares of Tesla (ticker: TSLA) worth almost $100 million from the Innovation ETF (ARKK) and two other funds on Monday.</p><p>ARK didn’t respond to a request for comment about Monday’s sales, and the company didn’t respond immediately to a request for comment over the holiday weekend about Friday’s sales.</p><p>But Wood might be selling because of Tesla’s recent success: Shares are up almost 50% over the past month, crushing the 10% and 6% comparable, respective gains of the Nasdaq Composite and S&amp;P 500. Tesla stock’s run has helped push the Innovation ETF up about 15% over the past month, too.</p><p>It’s unlikely that Wood is taking profits or that she believes Tesla shares are fully valued. ARK’s published price target for Tesla stock is $2,000 by 2027, up almost eight-fold from Friday’s close—which works out to an average annual gain of about 66% between now and the middle of 2027.</p><p>The problem is more likely structural: Tesla stock comprises more than 11% of the Innovation ETF’s portfolio. Practically speaking,10% seems to be a rule of thumb for ARK: When things get above a certain percentage of the portfolio, the company trims. ARK may not be done selling, since Tesla’s stock price performance has pushed it beyond 11% of the innovation ETF.</p><p>While the Securities and Exchange Commission and the Internal Revenue Service have rules about how big one position should be in a diversified investment vehicle, those don’t seem to be at play here.</p><p>Diversification cuts volatility down and gives investors exposure to multiple stocks. ARK’s Innovation ETF, however, is relatively concentrated. The top 10 positions in the fund, which only holds 30 stocks, account for about 62% of the total portfolio.</p><p>Compare that to the Vanguard Total Stock Market ETF (VTI), which holds 3,883 stocks. Its top 10 holdings, including two classes of Alphabet (GOOGL) stock, account for about 28% of total assets.</p><p>Still, there can be limits to any fund’s concentration—which means that great performance from a stock can generate selling pressure on its position in a fund.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4532":"文艺复兴科技持仓","ARKK":"ARK Innovation ETF","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4585":"ETF&股票定投概念","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","LU0234572021.USD":"高盛美国核心股票组合Acc","LU2063271972.USD":"富兰克林创新领域基金","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","BK4527":"明星科技股","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","BK4503":"景林资产持仓","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4574":"无人驾驶","BK4544":"ARK ETF合集","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4561":"索罗斯持仓","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","TSLA":"特斯拉","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4511":"特斯拉概念","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC"},"source_url":"https://www.marketwatch.com/articles/cathie-wood-tesla-ark-invest-arkk-dc49659e?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2344174780","content_text":"ARK Invest’s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by Cathie Wood disclosed on Friday evening.Cathie Wood’s ARK Invest sold more Tesla stock on Friday. That’s twice in a week.The news of Friday’s stock sale comes after ARK Invest offloaded about 393,000 shares of Tesla (ticker: TSLA) worth almost $100 million from the Innovation ETF (ARKK) and two other funds on Monday.ARK didn’t respond to a request for comment about Monday’s sales, and the company didn’t respond immediately to a request for comment over the holiday weekend about Friday’s sales.But Wood might be selling because of Tesla’s recent success: Shares are up almost 50% over the past month, crushing the 10% and 6% comparable, respective gains of the Nasdaq Composite and S&P 500. Tesla stock’s run has helped push the Innovation ETF up about 15% over the past month, too.It’s unlikely that Wood is taking profits or that she believes Tesla shares are fully valued. ARK’s published price target for Tesla stock is $2,000 by 2027, up almost eight-fold from Friday’s close—which works out to an average annual gain of about 66% between now and the middle of 2027.The problem is more likely structural: Tesla stock comprises more than 11% of the Innovation ETF’s portfolio. Practically speaking,10% seems to be a rule of thumb for ARK: When things get above a certain percentage of the portfolio, the company trims. ARK may not be done selling, since Tesla’s stock price performance has pushed it beyond 11% of the innovation ETF.While the Securities and Exchange Commission and the Internal Revenue Service have rules about how big one position should be in a diversified investment vehicle, those don’t seem to be at play here.Diversification cuts volatility down and gives investors exposure to multiple stocks. ARK’s Innovation ETF, however, is relatively concentrated. The top 10 positions in the fund, which only holds 30 stocks, account for about 62% of the total portfolio.Compare that to the Vanguard Total Stock Market ETF (VTI), which holds 3,883 stocks. Its top 10 holdings, including two classes of Alphabet (GOOGL) stock, account for about 28% of total assets.Still, there can be limits to any fund’s concentration—which means that great performance from a stock can generate selling pressure on its position in a fund.","news_type":1},"isVote":1,"tweetType":1,"viewCount":562,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":36,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}