Investors Are Bailing on Cathie Wood's Most Popular ETF. I Don't Blame Them.
Cathie Wood has become one of the more recognizable names on Wall Street, viewed by many as the poster child for high-growth, high-risk investing. Her investment firm, Ark Invest, is known for its bets on disruptive growth stocks like Zoom Video Communications, Coinbase Global, and .
During the early days of the COVID-19 pandemic when the stock market was entering a bull run, Wood's flagship fund, the Ark Innovation ETF (NYSEMKT: ARKK), became one of the hottest funds on the stock market. In 2016, the ETF averaged just $9.1 million in assets under management (AUM). In 2020, it averaged $6.3 billion in AUM. By Feb. 2021, AUM hit their peak of $27.9 billion.
That trend has drastically changed course, though. Despite the fund rallying over 60% year to date -- after dropping two-thirds of its value in 2022 -- investors are still jumping ship and pulling their money. Ark Innovation is down to about $9 billion in AUM, and investors have withdrawn over $700 million from the ETF in the past 12 months. Honestly, I don't blame them.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 72 Buy predictions and 29 Sell predictions.
As a result the target price of 240 € shows a slightly positive potential of 15.86% compared to the current price of 207.15 € for Tesla Inc.
