Cathie Wood's Tesla Bet Pays Off Again. But How Long Can It Last?

Cathie Wood, CEO of Ark Invest, oversees numerous exchange-traded funds (ETFs), including a family of funds that invest in technology stocks. These funds have had some success in the past, with the Ark Innovation ETF (NYSEMKT: ARKK), the largest one under the company's umbrella, returning nearly 60% over the past year through June 30. That's nearly four times the Nasdaq Composite's 15.7% return during that time. But the fund isn't necessarily for the faint of heart, given its concentration in the tech sector. It seeks to invest in companies at the forefront of "disruptive innovation. One of the Ark Innovation ETF's biggest winners has been Tesla (NASDAQ: TSLA). As of July 2, the fund owned about 2.1 million shares of the electric vehicle (EV) maker. That stake, worth over $630 million, represented 9.6% of the fund's assets, making it the ETF's biggest position. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool