Cathy Wood’s company, Ark Invest, has sold Tesla stocks for the first time in nine months, amounting to $150,000. Approximately 63,000 shares were sold, distributed between the Ark Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW).
Despite Tesla still being the largest holding in Ark’s portfolio, accounting for 14.6% of ARKK’s assets, the sale has sparked speculation among investors due to the recent surge in Tesla’s stock price.
On the day of the sale, Tesla’s stock price rose by over 10%, leading people to question whether Ark’s move was an opportunity to secure profits or part of a broader strategic adjustment.
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After Tesla’s strong performance, Ark Invest is selling the company’s stocks.
Kathy Wood has been a staunch supporter of Tesla’s long-term prospects, especially in the fields of autonomous driving and artificial intelligence technology.
The timing of this sale coincides with Tesla’s strong performance, indicating that Ark Invest intends to tactically manage its investments while maintaining confidence in Tesla’s innovation capabilities and future growth potential.
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