IMPORTANT POINTS:
- Businesswoman Cathie Wood got rid of more than 50,000 securities of Elon Musk’s company last Wednesday.
- The sales were made through the ARK Innovation ETF and amounted to almost $14 million.
- It is the first liquidation that Wood has made in Tesla since August 15, 2023, when he only sold 1,800 shares.
Cathie Wood‘s most popular fund, Ark Invest, dumped more than 50,000 shares of Tesla (TSLA) this Wednesday, after almost a month.
In detail, the businesswoman sold 51,155 Tesla shares for an estimated value of almost $14 million, Ark reported. This was Wood’s first Tesla trade since August 15, when he alone liquidated 1,800 shares.
Despite the sale, Tesla remains the top holding of the Ark Innovation ETF (ARKK), with a weighting of 11.3%.
Cathie Wood’s sales at Tesla
The investor boasts of selling securities of Elon Musk’s company to take profits, when the papers make sudden jumps or when she believes she has already obtained a good return.
Since June 12, Wood has sold 977,000 shares of the American company. And, in the last three months, Tesla only accumulated profits of 7.4%. In any case, so far this year the titles have skyrocketed more than 123%.
Despite the recent liquidations, the director of Ark Invest fully trusts the electric vehicle manufacturer. She still maintains that, by 2027, Tesla shares will reach $2,000.
This Thursday the shares rose 1.3% to $275. In the last week, they accumulated a gain of 9.3%.
