The following is an excerpt from Crystal Kim | November 6, 2017 | Barrons.com |
There are 108 exchange-traded funds with Tesla (ticker: TSLA) as a component, according to XTF.com. Investors will find it in big, broad ETFs such as the $87.5 billion Vanguard Total Stock Market (ticker: VTI), the $58 billion PowerShares QQQ (QQQ) and the $39 billion iShares Russell 1000 Growth ETF (IWF), but won't get much exposure with Tesla accounting for less than one percent of assets under management in each.
DataTrek's Nick Colas observed earlier this year the U.S.-listed ETFs tend to have bigger stakes in old auto than new auto. But that was a good thing on Monday. Tesla's stock fell more than 1.5% to around $301 about an hour shy of the market's close. Details in the mass-market electric car maker's quarterly report confirmed declining demand in North America, and other possible issues. Jefferies analyst Philippe Houchois, who has an Underperform rating on the stock and a price target of $240, said:
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