Cathie Wood’s company Ark Invest has sold Tesla shares for the first time in nine months, totaling $150,000 in value. Approximately 63,000 shares were sold across Ark Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). Despite Tesla remaining the largest holding in Ark’s portfolio at 14.6% of ARKK assets, the sale has sparked speculation among investors due to Tesla’s recent price surge.
Tesla’s stock price rose over 10% on the day of the sale’s conclusion, prompting questions whether Ark’s move was a profit-taking opportunity or part of a broader strategic adjustment. Read more:
Following Tesla’s strong performance, Ark Invest is selling shares of the company
Kathy Wood is a staunch supporter of Tesla’s long-term prospects, particularly in autonomous driving and artificial intelligence technologies. The timing of this sale amidst Tesla’s robust performance indicates Ark’s tactical management of its investments while maintaining confidence in Tesla’s innovation capabilities and future growth potential.
