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Cathie Wood Sells Another $4.9M In Tesla Stock On Thursday — Here's What She Bought Instead

Benzinga2022-01-07

Cathie Wood’s Ark Investment Management on Thursday booked more profit in Tesla Inc, selling 4,620 shares — estimated to be worth $4.9 million based on the latest closing price — in the electric vehicle maker.

The Elon Musk-led company’s stock closed 2.15% lower at $1,064.7 a share on Thursday.

Tesla stock posted significant gains on Monday as it reported fourth-quarter delivery volumes that far surpassed expectations; the gains have been since erased. The electric vehicle maker’s shares had advanced about 50% in 2021 and are down 11.3% for the year so far.

Ark Invest owns shares in Tesla via three of its exchange-traded funds — the Ark Innovation ETF, the Ark Autonomous Technology & Robotics ETF and the Ark Next Generation Internet ETF.

The three ETFs held about 1.61 million shares worth $1.75 billion in Tesla, prior to Thursday’s trade.

Tesla on Sunday smashed fourth-quarter delivery records, posting its biggest quarterly and full-year delivery volume.

Wood, who founded Ark Invest, is a Tesla bull and has set a $3,000 price target for the electric vehicle stock for 2025.

The St. Petersburg, Florida-based Ark has also been recently loading up shares in the U.S.-listed Chinese electric vehicle maker Xpeng Inc.

Here are some other key Ark Invest trades from Thursday:

  • Bought 430,339 shares — estimated to be worth $7.2 million — in Palantir Technologies Inc. The stock closed 1.3% lower at $16.7 a share on Tuesday.
  • Sold 46,973 shares — estimated to be worth $3.13 million — in JD.com Inc. The stock closed 6% higher at $66.8 a share.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment35

  • 可爱ppp
    ·2022-01-12
    The more Cathie buys the more it will not rise. Cathie is the problem, since there are many anti ark hedge funds
    Reply
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  • bmng
    ·2022-01-08
    Good
    Reply
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  • SalTheFun
    ·2022-01-07
    Palantir— is been always in new for future potential. Under value, right? 
    Reply
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  • MHh
    ·2022-01-07
    Take profit and rebalance. When she brought tesla even when it was falling, people thought she was crazy. Now that she’s selling, there are people who think she’s crazy. Could it be she is always 1 step ahead of the market?[Doubt] 
    Reply
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    • MHhReplying toDiAngel
      Ya… no rush…
      2022-01-08
      Reply
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    • DiAngelReplying toMHh
      Strongly with you. Hence I m holding my fingers back.. real tight! 😂
      2022-01-07
      Reply
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    • MHhReplying toDiAngel
      Ya.. no choice especially if got position unless want to sell now
      2022-01-07
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    View more 2 comments
  • Dawang
    ·2022-01-07
    Cashing in and locking in profits 😻🧘‍♂️
    Reply
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  • calbee_lwh
    ·2022-01-07
    Ok
    Reply
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  • Baby Step 4
    ·2022-01-07
    Wahh
    Reply
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  • novming
    ·2022-01-07
    Will he throw again 
    Reply
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  • Lely84
    ·2022-01-07
    It's only logical for her to cash in from Tesla to cover some of the awful stocks that she's bought
    Reply
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  • DylDyl
    ·2022-01-07
    Palantir is a good buy
    Reply
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  • LimLS
    ·2022-01-07
    Taking profit from Tesla while still pushing for $3000 price target. Watch what she do, not what she says...
    Reply
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  • UTOtrader
    ·2022-01-07
    Sell n sell
    Reply
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  • hpt
    ·2022-01-07
    Ok
    Reply
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    • Cheekyd
      please like 👍
      2022-01-07
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  • Jasonbehr87
    ·2022-01-07
    Hmmmm
    Reply
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  • Fredteh
    ·2022-01-07
    I keep Palantir for a year. Stock price is decreasing from 2021 to today. Report a lot of contracts from US Government Agency and Multinational companies. Does not make sense share is dropping.
    Reply
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    • tkj
      I think the problem is it is still making money and its valuation is too high.
      2022-01-07
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  • JY1980
    ·2022-01-07
    Is she done?
    Reply
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  • Cedric Tan
    ·2022-01-07
    Will consider PLTR
    Reply
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  • LWKJKK
    ·2022-01-07
    Good that she bought more PLTR :) Its now at discounted price due to Fed regulations on tech. With more partnerships and contracts, this stock will definitely grow this year.
    Reply
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    • LWKJKK
      I sold when at its high and bought recently. guess have to wait a while more
      2022-01-07
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    • ZEROHERO
      Been waiting since 2021...
      2022-01-07
      Reply
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  • Svkartik
    ·2022-01-07
    PLTR might go lower and then bottom out at around 14-15$. I plan to add then . It is a risky bet but worth taking 
    Reply
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    • DiAngel
      No venture no gain
      2022-01-07
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  • Bluefish
    ·2022-01-07
    PLTR downtrend.. Would avoid without reversal confirmation 
    Reply
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