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Cathie Wood's Ark Invest Sells Another $5.7M In Tesla

Benzinga2021-08-05

Cathie Wood-led Ark Invest on Wednesday shed less than half a percent of its position in Elon Musk-led Tesla Inc as the shares of the electric vehicle company climbed.

Ark Invest sold a total of 8,100 shares, estimated to be worth about $5.76 million, in Tesla based on the stock’s closing price of $710.92 on Wednesday.

Tesla shares have jumped about 4% since Friday when the New York-based Ark Invest sold 63,643 shares,estimated to be worth about $43.7 million in the Palo Alto, California-based company.

Wood’s firm holds large bets in Tesla which it predicts will hit the $3,000 mark at the end of 2025.

Just last week, Wood compared Tesla with Apple IncAAPL 0.28%in an interview with RealVision and had suggested a huge inefficiency in analyst research behind Tesla, as reported by Markets Insider.

Ark Invest on Wednesday deployed the Ark Next Generation Internet ETF to sell shares in Tesla and also holds positions in the Elon Musk company via two other traded funds, namely, the Ark Autonomous Technology & Robotics ETF and the Ark Innovation ETF.

Together the three ETFs held about 4.85 million shares, worth $3.4 billion, in Tesla ahead of Wednesday’s trades.

Some of the other key Ark Invest sells on Wednesday included Square Inc and buys included UiPath Inc.

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Comment19

  • LuluDog
    ·2021-08-05
    Ya, just rebalancing
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  • Guardian91
    ·2021-08-05
    Just remember that ARK is an ETF, Cathy as a fund manager, it is normal for her to optimise her portfolio from time to time. In any case, TSLA will still be the front of her ARK holdings. So there is nothing to be alarmed about ?
    Reply
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  • Lineeeeee
    ·2021-08-05
    Still holding a lot more 
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    • BinLong
      ??
      2021-08-06
      Reply
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    • LuluDog
      Yeah
      2021-08-05
      Reply
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  • Lucky8
    ·2021-08-05
    Pls like
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    • lee12
      Yes
      2021-08-05
      Reply
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  • Jjjjia
    ·2021-08-05
    Pls like 
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  • Chiaweei
    ·2021-08-05
    Time to sell [Cry] 
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  • VL1996
    ·2021-08-05
    Why would she do this?
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  • Tigertraders
    ·2021-08-05
    Hmm Tesla sells nice cars 
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    • EdLien
      4000
      2021-08-05
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  • clare288
    ·2021-08-05
    Time to sell?
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    • CK_____
      Maybe ?
      2021-08-05
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    • Lineeeeee
      Nope
      2021-08-05
      Reply
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  • Felibhai
    ·2021-08-05
    Tesla dropping today? 
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  • Tbun
    ·2021-08-05
    Pls like
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  • Tbun
    ·2021-08-05
    Ok
    Reply
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  • Toastz
    ·2021-08-05
    [Cool] [Miser] [Cool] 
    Reply
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  • 女股神砍倉咯!
    Reply
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    • Ahleepapa
      Spreading FeaR. Please buy
      2021-08-05
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    • Tbun
      ok
      2021-08-05
      Reply
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  • Rexgan
    ·2021-08-05
    Ark!
    Reply
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  • pandalinden
    ·2021-08-05
    Big boys playing 
    Reply
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  • TripleWin
    ·2021-08-05
    Good or bad?
    Reply
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    • TripleWin
      Not a good sign
      2021-08-05
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    • Toastz
      [Doubt]
      2021-08-05
      Reply
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  • Royaloyalz
    ·2021-08-05
    Like pls
    Reply
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  • YKYK14
    ·2021-08-05
    Bye tesla
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    • SharkRider
      Looks like routine Profit Taking move by ARK
      2021-08-05
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