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ARK Invest has trimmed its position in Tesla (TSLA) across two of its ETFs as part of a routine portfolio rebalancing. The move comes amid growing concerns over weakening EV demand and intense debate over the company's high valuation, even as ARK maintains a long-term bullish outlook.
Investors are shifting toward low-cost, diversified value ETFs like the Schwab U.S. Large-Cap Value ETF (SCHV). This trend coincides with new data revealing significant underperformance and elevated risks in speculative thematic and single-stock exchange-traded funds.
Luminar Technologies faces a critical December 14 forbearance deadline with creditors as it explores strategic alternatives, including a potential sale. The lidar maker is navigating missed interest payments, the termination of its agreement with Volvo, and a takeover bid from its founder.