Elon Musk & Cathie Wood discussed Tesla's S&P 500 addition

  • Elon Musk and Cathie Wood discussed the timing of Tesla’s addition to the S&P 500, highlighting the oddity of index investors missing out on significant gains.
  • Musk expressed concerns about the growth of index funds, stating that they have become too large and can amplify stock price fluctuations.
  • Musk indicated that SpaceX may not go public, as public markets focus too much on short-term cash flow, while private markets allow for more risk-taking.
  • Musk reiterated his belief in the potential of self-driving cars, stating that Tesla’s autonomous-driving technology is advanced and regulatory hurdles can be overcome.
  • The conversation also touched on the impact of a privately held company, X, on Tesla’s stock. Losses at X could lead to stock sales by Musk, which would be significant to investors.
  • Cathie Wood’s ARK Invest has not been selling Tesla stock and recently bought 111,000 Tesla shares in two funds.
  • Tesla stock was down 0.4% in midday trading, while the S&P 500 and Nasdaq Composite were not mentioned.