According to the latest statistics of Bloomberg, at least since 2017, Tesla (tsla. US) has been the first heavyweight stock of ark innovation (arkk. US), the flagship ETF of "wooden sister" Cathie wood, in almost all time periods. On Thursday, this situation changed. Roku Inc (roku. US), a streaming media concept stock with a market value of about $13.2 billion, overtook Tesla and promoted to the first heavyweight stock of the ETF.
According to the latest data, as of Thursday's close, ark innovation held Tesla shares worth about $703 million, while roku held a market value of about $717 million.
Ark innovation, a stock selection strategy focusing on growth stocks, has plummeted by more than 55% this year. Combined with Tesla's loss of its position as the number one heavyweight stock in this hot ETF, it seems to be constantly sending such a message to investors: the rise of benchmark interest rates and the bleak global economic outlook put great pressure on growth stocks. The share price of the global electric vehicle leader reached an all-time high in 2021, but has plunged more than 33% this year.
According to statistics compiled by Bloomberg, ark investment, an investment company founded by sister mu, and its flagship fund have sold Tesla shares for at least four consecutive quarters. As of the end of March, the company held nearly 1.59 million Tesla shares, far lower than the nearly 5.79 million shares in the same period last year.
The daily transaction update of ark only shows the active investment decisions of the management team, excluding new or redemption transactions caused by investor liquidity. "Wooden sister" repeatedly stressed that the investment period of ark's products is at least five years, and the volatility brought by its stock selection strategy is expected.