Surging by 80%, Tesla's weight in the ARKK fund has reached an unprecedented high
The recent strong rebound in Tesla's stock price has led to a record high weighting of the electric vehicle manufacturer in Cathie Wood's flagship $6.2 billion fund, ARK Innovation ETF (ARKK). According to aggregated data, after bouncing back more than 80% from its low point in April, Tesla now accounts for 15.4% of ARKK. This is even after the fund reduced its position in Tesla over the past few weeks. According to analysis by Strategas Securities, such a weighting represents the strongest confidence this disruptive technology fund has had in this stock throughout its ten-year history.
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