"The last time that Tesla stock hit $400 was over three years ago, in November 2021. That was the highest it's ever traded. Since hitting a low of $101.81 at the beginning of 2023, Elon Musk's company has delivered a two-year return of 234%."
"If you think Tesla's got more in the tank but don't want to risk a company-specific bet, given that the S&P 500 is more expensive than it's been since 2008-2009 during the financial crisis, many ETFs invest in the EV manufacturer."
"Wood has three ETFs invested in Tesla: ARK Autonomous Technology & Robotics ETF, ARK Innovation ETF, and the ARK Next Generation Internet ETF. The weights for the three funds are 16.45%, 15.18%, and 10.24%, respectively."
"Ark Investment Management, the company behind the ARK ETFs, filed its Q3 2024 13F holdings report with the SEC at the end of October. Its listed assets were $10.93 billion, of which Tesla accounted for 11% - considerably higher than any other stock."
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