Tesla is now biggest-ever weighting in ARKK after 80% stock gain

$Tesla(TSLA.US)$ $BYD COMPANY(01211.HK)$ $NIO Inc(NIO.US)$ $XPeng(XPEV.US)$ The article reported that big rebound in Tesla shares over the past few months has pushed the electric vehicle maker to its highest-ever weighting in Cathie Wood’s flagship exchange-traded fund (ETF).
Tesla now represents 15.4 per cent of the ARK Innovation ETF after rallying more than 80 per cent from its 2024 low set in April. That’s even after the fund trimmed its positions in the Elon Musk-led company in recent weeks. The ETF’s second-largest position, Roku, comprises about 9.1 per cent of the fund. Coinbase is third at around 8.5 per cent.

My Take: Someone posted that Cathie Wood, CEO of Ark Invest sold Tesla shares recently is to "pump and dump the stock" and "misguide the investors" is not true. Here is why:

1) The above showed that Tesla is still the biggest portfolio of Ark Invest. A "pump and dump" trader won't hold so much shares after selling.

2) As of today, Cathie Wood is holding about 4.91 million Tesla shares worth $1.24 billion. Her recent selling of 79,857 shares (reported by Benzinga) is a very small amount, a normal portfolio adjustment which can be found in any hedge fund. See screenshot.

You can track Ark Invest trading transactions using the Moomoo app. Go to Menu>Market>Select US stock>scroll down to Institution Tracker. If you didn't see it, type search "Ark Investment Management LLC".

3) Cathie Wood is well-known for being very bullish and long time committed to Tesla stock. Her investment in Tesla can be traced back to 2021. Many have used Ark Invest selling Tesla stock to spread FUD and they will not tell you how much Tesla shares Cathie Wood is holding.