Source: Liu Qian on Wall Street
Since September, ETF, a subsidiary of "wooden Sister" Cathie Wood, has sold Tesla, Inc..More than 350000 shares, worth $266 million. On Wednesday alone, its ARKK and ARKW ETF sold more than 81600 shares of Tesla, Inc., worth $62 million. At the beginning of this month, her basic forecast for Tesla, Inc. was to reach 3000 US dollars per share.
Since September, ETF, a unit of "wooden Sister" Cathie Wood, has sold more than 350000 shares of Tesla, Inc., worth $266 million. On Wednesday alone, its ARKK and ARKW ETF sold more than 81600 shares of Tesla, Inc., worth $62 million. However, Tesla, Inc. is still the single largest position of Sister Wood.
Tesla, Inc. 's share price has performed relatively strongly in recent months and is now around $750, a price that has rebounded about 37 per cent from its mid-May low.
Earlier this month, "wooden Sister" said in an interview with Yahoo Finance that her basic estimate for Tesla, Inc. is to reach 3000 US dollars per share. She believes that Tesla, Inc. 's chances of success are on the rise, mainly because of his market share. From the end of 2017 to the present, Tesla, Inc. 's market share has not declined, but has risen sharply. New electric cars from more established carmakers will only validate Tesla, Inc. 's strategy. In addition, she is optimistic about the market potential of electric vehicles in China.
Financial blog Zerohedge satirized: isn't it foolish of you to choose to sell at $750when your target price is $3000?
However, when "wooden Sister" was interviewed by CNBC last year, her position on when to choose to sell stocks could explain her recent operation with Tesla, Inc.. Asked at the time if she would sell some Tesla, Inc., she said it was "wise portfolio management" to cut some stocks that performed well to invest in other companies.
"wooden Sister" focuses on companies that apply revolutionary technologies such as artificial intelligence, robots, electric vehicle finance technology, 3D printing, block chain, etc. In addition to Tesla, Inc., they also invest in Zoom, a teleconferencing software company.Growth stocks such as Coinbase, the largest cryptocurrency exchange in the United States.
Her flagship ETF ARKK was one of the best-performing ETF in the US market last year, with an increase of 149% in 2020 and a tenfold increase in management. this growth rate is unprecedented among active ETF funds, so "wooden Sister" was once praised as the "female version of Buffett" by the US media.
ARKK's fund's returns fell after late February, as technology growth stocks rose sluggishly. By the trough of mid-May, it had fallen more than 30 per cent from its peak in early February, but has rebounded since then, but flagship fund ARKK has returned negative year-to-date, down 5 per cent.