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Special purpose acquisition companies (SPACs) were a hot topic for investors in 2020 and continue to be a big story in 2021. While SPACs have lost some of the initial buzz surrounding them, some of the larger names going public via this method are attracting interest from mutual funds and ETFs.
Ark Funds CEO Cathie Wood has been adding several SPACs to the company’s ETFs. Here is a look at 10 SPACs and former SPACs that are owned in the Ark Funds.
DraftKings: Online sports betting company
DraftKings Inc (NASDAQ: DKNG) is held in two Ark Funds ETFs. The
Ark Next Generation Internet ETF (ARCA:ARKW) owns 1.38 million shares of DraftKings valued at $98.7 million. The stock is the 30th largest holding in the ETF and represents 1.3% of the fund’s assets. DraftKings is also held in the
Ark Investment Management Founder and CEO Cathie Wood has been one of the most notable bulls on
Tesla Inc (NASDAQ:TSLA) over the years. She joined Benzinga s Raz Report Wednesday for an exclusive interview and shared her thoughts on Tesla.
Wood on Tesla: Wood highlighted Tesla s strong barriers to entry. The company has strong technology, a history of miles driven, over-the-air updates and battery technology, she said. Didn t think [the] company was going to run out of money, Wood said when discussing why she added more shares in 2018.
Wood has been very vocal about Tesla s future plans for autonomous driving and robotaxis: Our conviction on its autonomous strategy has increased over last few months.
Ark Investment Management Founder and CEO Cathie Wood has been one of the most notable bulls on
Tesla Inc (NASDAQ:TSLA) over the years. She joined Benzinga s Raz Report Wednesday for an exclusive interview and shared her thoughts on Tesla.
Wood on Tesla: Wood highlighted Tesla s strong barriers to entry. The company has strong technology, a history of miles driven, over-the-air updates and battery technology, she said. Didn t think [the] company was going to run out of money, Wood said when discussing why she added more shares in 2018.
Wood has been very vocal about Tesla s future plans for autonomous driving and robotaxis: Our conviction on its autonomous strategy has increased over last few months.
The electric vehicle market is expected to touch $985.72 billion by 2027 as traditional automakers and emerging EV companies transform the automotive .