ARKW - ARKW: Tesla's Wild Ride A Tailwind Eyeing Higher Prices In 2H
2024-07-14 05:52:29 ET
Summary
- ARKW started 2024 strong, reaching a 23-month high of $85 in March, and shares are up lately, boosted by Tesla's rally.
- The fund's high concentration in Tesla and growth stocks, along with a focus on next-generation internet companies, makes for a risky strategy, but shares remain trending up.
- Ahead of earnings season in the tech space, I highlight key price levels to monitor.
The ARK Next Generation Internet ETF (ARKW) got off to a hot start in 2024. Shares rallied from a low near $67 in early January to $85, a 23-month high, by late March. Over the past three-plus months, however, the tech-focused fund has meandered. There has been a boost since late last month as shares of Tesla (TSLA) soared about 50% from June 25 through its intraday peak of $271 following the release of the June US CPI report. ...
ARKW: Tesla's Wild Ride A Tailwind, Eyeing Higher Prices In 2H