Tesla’s stock was shedding 1.7% in recent trading, and has now lost 5.7% amid a three-day losing streak.
But even with that pullback, which started after it closed at a 2 1/2-year high, the stock has run up 33.0% so far this month, as Donald Trump’s election win has proved a boon for Tesla CEO Elon Musk, who has been an ardent Trump supporter.
That puts the stock on track to have its best month since it soared 40.6% in January 2023.
Through Tuesday, the ETF has sold 218,656 Tesla shares — valued at $72.7 million at current prices — since the election. But Tesla remained the ETF’s largest holding by far with a 14.5% weighting. In second place is Coinbase’s stock, with a 9.6% weighting.