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Tesla Returns to Delivery Growth but Shares Slip: ETFs in Focus
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Tesla Inc. (TSLA - Free Report) reported robust third-quarter vehicle delivery numbers. The carmaker returned to delivery growth after two consecutive quarters of decline. However, deliveries were below analysts' expectations. Shares of TSLA declined 3.5% following the delivery report.
Given this, ETFs having a substantial allocation to this luxury carmaker are in focus. These include ARK Innovation ETF (ARKK - Free Report) , Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report) , Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report) , ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) .
This leading electric carmaker delivered 462,890 (439,975 Model 3/Y and 22,915 other models) cars worldwide in the third quarter, up 6.4% year over. This marks the first quarter of year-over-year growth in 2024 and the third-largest quarterly number in the company's history. However, delivery numbers fell short of the estimated 463,310, according to FactSet StreetAccount data. Tesla produced 469,796 (443,668 Model 3/Y and 26,128 other models) vehicles during the quarter.
The return to growth shows that some of the incentives that Tesla had rolled out to boost demand are now paying off. Tesla shares have been on a surge in recent weeks ahead of the Oct. 10 event, where the company is expected to unveil its long-awaited Robotaxis, powered by Full Self-Driving technology. The next-generation vehicle could be key to the electric automaker’s survival, especially as competition heats up in the EV space. Tesla has been losing market share to rivals in both China and the United States, resulting in a notable slowdown in growth.
ARK Innovation ETF is an actively managed fund investing in companies that benefit from the development of new products or services, technological improvements and advancements in scientific research related to the areas of DNA Technologies and Genomic Revolution, Automation, Robotics, Energy Storage, Artificial Intelligence, Next Generation Internet and Fintech Innovation. The fund holds 33 securities in its basket, with Tesla occupying the top spot at 15.3%.
ARK Innovation ETF has gathered $5.7 billion in its asset base and charges 75 bps in fees per year from investors. It trades in an average daily volume of 7 million shares.
Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report)
Consumer Discretionary Select Sector SPDR Fund offers exposure to the broad consumer discretionary space by tracking the Consumer Discretionary Select Sector Index. Holding 50 securities in its basket, Tesla takes the second spot with 14.2% of the assets.
Consumer Discretionary Select Sector SPDR Fund is the largest and most popular product in this space, with AUM of $19.2 billion and an average daily volume of around 3 million shares. It charges 9 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report)
Simplify Volt Robocar Disruption and Tech ETF is an actively managed ETF seeking concentrated exposure to the leader of autonomous driving technology. It employs a call option overlay to seek boosts in performance during extreme moves up in Tesla while holding a tech index for diversification and put options as a hedge (see: all the Alternative Energy ETFs here).
Simplify Volt Robocar Disruption and Tech ETF charges investors 0.95% in annual fees. It has accumulated $5.5 million in its asset base while trading in an average daily volume of 2,000 shares.
ARK Autonomous Technology & Robotics ETF is an actively managed ETF seeking long-term capital appreciation by investing in companies that benefit from the development of products or services, and technological improvement and advancements in scientific research related to energy, automation and manufacturing, materials, and transportation. This approach results in a basket of 35 stocks, with Tesla occupying the top spot with a 13.8% share.
ARK Autonomous Technology & Robotics ETF has accumulated $763.6 million in its asset base and charges 75 bps in fees per year. It trades in a volume of 85,000 shares a day on average.
Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report)
Fidelity MSCI Consumer Discretionary Index ETF tracks the MSCI USA IMI Consumer Discretionary Index, holding 274 stocks in its basket. Of these, TSLA takes the second spot with an 11.1% share. Broadline Retail, Hotels, Restaurants & Leisure and Specialty Retail make up the top three sector holdings (read: ETFs to Tap on Improving Consumer Sentiment).
Fidelity MSCI Consumer Discretionary Index ETF has amassed $1.8 billion in its asset base while trading in a good volume of around 79,000 shares a day on average. Fidelity MSCI Consumer Discretionary Index ETF charges 8 bps in annual fees from investors and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
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Tesla Returns to Delivery Growth but Shares Slip: ETFs in Focus
Tesla Inc. (TSLA - Free Report) reported robust third-quarter vehicle delivery numbers. The carmaker returned to delivery growth after two consecutive quarters of decline. However, deliveries were below analysts' expectations. Shares of TSLA declined 3.5% following the delivery report.
Given this, ETFs having a substantial allocation to this luxury carmaker are in focus. These include ARK Innovation ETF (ARKK - Free Report) , Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report) , Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report) , ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) .
This leading electric carmaker delivered 462,890 (439,975 Model 3/Y and 22,915 other models) cars worldwide in the third quarter, up 6.4% year over. This marks the first quarter of year-over-year growth in 2024 and the third-largest quarterly number in the company's history. However, delivery numbers fell short of the estimated 463,310, according to FactSet StreetAccount data. Tesla produced 469,796 (443,668 Model 3/Y and 26,128 other models) vehicles during the quarter.
The return to growth shows that some of the incentives that Tesla had rolled out to boost demand are now paying off. Tesla shares have been on a surge in recent weeks ahead of the Oct. 10 event, where the company is expected to unveil its long-awaited Robotaxis, powered by Full Self-Driving technology. The next-generation vehicle could be key to the electric automaker’s survival, especially as competition heats up in the EV space. Tesla has been losing market share to rivals in both China and the United States, resulting in a notable slowdown in growth.
ETFs in Focus
ARK Innovation ETF (ARKK - Free Report)
ARK Innovation ETF is an actively managed fund investing in companies that benefit from the development of new products or services, technological improvements and advancements in scientific research related to the areas of DNA Technologies and Genomic Revolution, Automation, Robotics, Energy Storage, Artificial Intelligence, Next Generation Internet and Fintech Innovation. The fund holds 33 securities in its basket, with Tesla occupying the top spot at 15.3%.
ARK Innovation ETF has gathered $5.7 billion in its asset base and charges 75 bps in fees per year from investors. It trades in an average daily volume of 7 million shares.
Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report)
Consumer Discretionary Select Sector SPDR Fund offers exposure to the broad consumer discretionary space by tracking the Consumer Discretionary Select Sector Index. Holding 50 securities in its basket, Tesla takes the second spot with 14.2% of the assets.
Consumer Discretionary Select Sector SPDR Fund is the largest and most popular product in this space, with AUM of $19.2 billion and an average daily volume of around 3 million shares. It charges 9 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report)
Simplify Volt Robocar Disruption and Tech ETF is an actively managed ETF seeking concentrated exposure to the leader of autonomous driving technology. It employs a call option overlay to seek boosts in performance during extreme moves up in Tesla while holding a tech index for diversification and put options as a hedge (see: all the Alternative Energy ETFs here).
Simplify Volt Robocar Disruption and Tech ETF charges investors 0.95% in annual fees. It has accumulated $5.5 million in its asset base while trading in an average daily volume of 2,000 shares.
ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report)
ARK Autonomous Technology & Robotics ETF is an actively managed ETF seeking long-term capital appreciation by investing in companies that benefit from the development of products or services, and technological improvement and advancements in scientific research related to energy, automation and manufacturing, materials, and transportation. This approach results in a basket of 35 stocks, with Tesla occupying the top spot with a 13.8% share.
ARK Autonomous Technology & Robotics ETF has accumulated $763.6 million in its asset base and charges 75 bps in fees per year. It trades in a volume of 85,000 shares a day on average.
Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report)
Fidelity MSCI Consumer Discretionary Index ETF tracks the MSCI USA IMI Consumer Discretionary Index, holding 274 stocks in its basket. Of these, TSLA takes the second spot with an 11.1% share. Broadline Retail, Hotels, Restaurants & Leisure and Specialty Retail make up the top three sector holdings (read: ETFs to Tap on Improving Consumer Sentiment).
Fidelity MSCI Consumer Discretionary Index ETF has amassed $1.8 billion in its asset base while trading in a good volume of around 79,000 shares a day on average. Fidelity MSCI Consumer Discretionary Index ETF charges 8 bps in annual fees from investors and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.