Original title: the goddess of stock sells Tesla, Inc. again! This month, it has reduced its holdings eight times and cashed out nearly 600 million US dollars.
Source: FX168
Cathie Wood, founder of Ark Investment and "Goddess of stocks", further sold Tesla, Inc. 's shares on Tuesday, the eighth time the Ark sold Tesla, Inc. in September and the biggest reduction this month, cashing out about $265 million.
Ark funds sold 340000 618 shares of Tesla, Inc. on Tuesday, estimated to be worth about $264.85 million, while Tesla, Inc. closed down 1.74 per cent at $777.56 on Tuesday, up 5.6 per cent this month.
It is reported that, including the recent sale, Ark Autonomous Technology and Robot ETF (ARKQ), Ark Innovation ETF (ARKK) and Ark Internet of things ETF (ARKW) have sold nearly $594 million worth of shares in Tesla, Inc. since September. But before Tuesday's latest deal, the ark still held nearly 4 million shares in Tesla, Inc., worth $3.17 billion.
Tesla, Inc. remains Wood's biggest bet, predicting that its share price will rise from about $778 today to $3000 by 2025. However, when Tesla, Inc. performs very well or it accounts for too much of the Ark's portfolio, the Ark often sells Tesla, Inc. 's shares.
Treasury yields have soared since the Federal Reserve said last week that it would phase out pandemic stimulus measures, sending shockwaves through growth stocks. Because of Wood's preference for subversive innovation and technology, the Ark Fund's massive investment in technology companies, ARKK, has fallen 8.2% this month, while NasdaqThe 100 index fell 5.2%.
In addition to Tesla, Inc., the Ark also sold 68883 shares of Snap Inc in Tuesday's sharp sell-off in the stock market.Shares, estimated to be worth $5.12 million, closed down 7.07% at $74.42 on the day. Also sold were 1994 shares of Alphabet, estimated at $5.4 million, which closed down 3.76 per cent at $2723.68 on Tuesday.
Ark bought 180000 4199 shares of Coinbase on Tuesday, estimated to be worth $42.33 million, and closed down 1.03 per cent at $229.84 on the day. Another stock bought by the ark is Square, INC., which added 200000 5707 shares, estimated to be worth $49.9 million, and closed down about 6% at $242.70 on Tuesday.