This ETF Forms Bull Flag Pattern After Cathie Wood Defends Tesla $2,000 Price Target: The Bull, Bear Case
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Originally posted on September 5th, 2023 at 6:57 pm and revised on September 5th, 2023 at 8:10 pm.
Reuters reported that an ETF has formed a bull flag pattern following Cathie Wood's defense of Tesla's $2,000 price target. The article explores the potential bullish and bearish outcomes.
Melanie Schaffer from Benzinga has contributed to this blog post.
On Tuesday, the Ark Innovation ETF (ARCA: ARKK), led by Cathie Wood, saw an increase of almost 0.75%. This shows that the ETF's upward trend is still continuing. The CEO and CIO of ARK Invest defended their prediction that Tesla, Inc (NASDAQ: TSLA) will reach $2,000 per share during an interview with Benzinga.
The Innovation ETF managed by Wood has included a significant quantity of shares from Tesla. And, this electric vehicle power player has experienced a hike of almost 5% as the first week after the Labor Day kicked off.
Are you searching for a way to increase your exposure and take advantage of ARKK's potential rise? One option to consider is the TARK ETF, which provides traders and investors with a leveraged approach to long positions in ARKK.
TARK is a managed ETF that seeks to provide a return of 200% based on the daily performance of ARKK. This added leverage helps enhance trading performance, resulting in considerable profits for traders.
By trading TARK, investors can take advantage of the upward trends in ARKK. ARKK invests in various industries like electric vehicles, next-gen Internet, genomics, and fintech. The biggest stocks included in the ARKK portfolio are Tesla, weighing 10.75%, Roku, Inc (NASDAQ: ROKU) at 8.35%, and Zoom Video Communications-A, making up 7.65% of the fund’s portfolio.
It's essential to understand that leveraged funds are intended for traders who prefer shorter-term investments and should not be kept for an extended period.
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In the TARK Chart update, it was reported that the market opened on Monday with lower rates, however, purchasers showed up soon after and purchased the low-priced shares. The market's low opening caused an increase in the lowest value recorded, proposing a constant upward tendency in the ETF's progress.
Check out this exclusive piece of news! Cathie Wood has shared her opinion that the Cybertruck will help to increase the market for trucks.
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