TSLA - Tesla Back As Ark's Darling: EV Giant Reclaims Top Spot In Cathie Wood's Flagship Fund After Over 2 Years | Benzinga
Tesla Inc. (NASDAQ:TSLA) shares surged on Monday, propelling the electric vehicle maker back to the top holding in Cathie Wood‘s flagship Ark Innovation ETF (NYSE:ARKK). This shift was also aided by Ark’s ongoing sell-off of Coinbase Global (NASDAQ:COIN) shares, which previously held the leading position.
Tesla Now Holds The Lead: As of Tuesday, ARKK’s holdings in Tesla totaled $714.36 million, according to the firm’s website. Notably, Ark did not trade Tesla shares on Monday itself. Coinbase, now in second place, represents $714.63 million of the fund’s value.
Weighting and Share Count: Interestingly, both Tesla and Coinbase hold a weighting of 9.75% in ARKK. However, Tesla’s higher share count (4,129,696 vs. 2,780,772 for Coinbase) likely explains ...