Cathie Wood has liquidated some of her fund’s Tesla stock, as a recent rally in the EV maker’s share price made for an attractive sale.
According to Bloomberg, which cited trading data, Cathie Wood’s ARK Innovation, ARK Next Generation Internet, and ARK Autonomous Technology & Robotics ETFs sold off more than 180,000 shares of Tesla between Wednesday and Thursday, putting the total value of the sale at around US$139 million.
Despite the considerable sale, it only accounts for approximately 3% of Wood’s total Tesla holdings, with her firm still owning over US$4 billion. The EV maker has enjoyed a recent stock rally, increasing its market value by around US$75 billion over the past three weeks.
At the beginning of the year, Wood forecast that Tesla would soar to US$3,000 before the end of 2025, amounting to a potential valuation of approximately US$3 trillion and a market cap of nearly US$760 billion for the automaker.
Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.