Stocks
Global X Launches New ETF Excluding Tesla Amid Weakening Stock
Mirae Asset's U.S. subsidiary Global X has applied for the listing of its 'Global X Magnificent 6' ETF on the U.S. stock market, with a ticker symbol of SIX.
The fund will invest in six major tech stocks: NVIDIA, Apple, Alphabet, Microsoft, Amazon, and Meta.
This move comes as Tesla's position weakens, with its shares closing at $362.86 on the New York Stock Exchange on August 21, down 19% this year.
Tesla was excluded from the 'Magnificent 7' stocks that U.S. investors are paying attention to.