Michi
2021-04-30
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Tesla slips below 10% of Cathie Wood's flagship fund
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The fund's remaining Tesla stake is worth $2.4 billion.</p><p>The recent, modest reduction of the Ark Innovation ETF's Tesla stake comes after Ark Invest in March predicted that Tesla's stock would reach $3,000 by 2025.</p><p><a href=\"https://laohu8.com/S/BPOPM\">Popular</a> among retail investors after surging over 100% in the past 12 months, the <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>'s assets under management have ballooned to $24 billion from under $2 billion at the end of 2019, according to Refinitiv data.</p><p>Ark Invest also owns Tesla shares in other ETFs, and it is the electric car maker's 19th largest shareholder, according to Refinitiv.</p><p>Tesla's shares have receded from record highs in 2021 after jumping more than eight-fold last year. 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The fund's remaining Tesla stake is worth $2.4 billion.The recent, modest reduction of the Ark Innovation ETF's Tesla stake comes after Ark Invest in March predicted that Tesla's stock would reach $3,000 by 2025.Popular among retail investors after surging over 100% in the past 12 months, the ARK Innovation ETF's assets under management have ballooned to $24 billion from under $2 billion at the end of 2019, according to Refinitiv data.Ark Invest also owns Tesla shares in other ETFs, and it is the electric car maker's 19th largest shareholder, according to Refinitiv.Tesla's shares have receded from record highs in 2021 after jumping more than eight-fold last year. 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