Cathie Wood's ARK Innovation ETF Is a Trump Trade Winner as Tesla Soars. But It Still Lags the Market.
Portfolio Pulse from
Cathie Wood's ARK Innovation ETF is benefiting from the rise in Tesla and Coinbase stocks, yet it still underperforms the S&P 500.
November 12, 2024 | 5:00 pm
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NEUTRAL IMPACT
ARK Innovation ETF is seeing a boost from Tesla and Coinbase stocks, but it continues to underperform the S&P 500.
While ARK Innovation ETF benefits from Tesla and Coinbase's performance, its overall performance still lags behind the S&P 500, indicating a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla's stock surge is contributing positively to ARK Innovation ETF's performance.
Tesla's stock increase is a significant factor in the recent performance of ARK Innovation ETF, suggesting a positive short-term impact on Tesla's stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60