On Wednesday, Cathie Wood-led Ark Invest continued its trend of offloading shares of $Tesla (TSLA.US)$ Inc (NASDAQ:TSLA), marking the second consecutive day of significant sales.
This move follows Tesla's recent rally and ongoing discussions about the company's potential in autonomous driving technology.
The Tesla Trade: On Wednesday, Ark Invest offloaded $8.42 million worth of Tesla shares — the value is based on Tesla's closing price of $262.59. The sale was made through the flagship $ARK Innovation ETF (ARKK.US)$.
Yesterday's sale was executed through the Innovation ETF as well and amounted to nearly $20.56 million This followed last week's significant sale through ARKK, which offloaded 51,155 Tesla shares. Despite these sales, Ark remains optimistic about Tesla's future, projecting a stock price surge to $2,000 by 2027, largely driven by the anticipated launch of its robotaxi service. More details on the trade can be found here.
Other Key Trades:
$Roblox (RBLX.US)$: Ark Invest purchased 526,046 shares through multiple ETFs.
$Teladoc Health (TDOC.US)$: Ark Invest bought a total of 351,042 shares across multiple ETFs.
$DraftKings (DKNG.US)$: Ark Invest sold a total of 393,226 shares across multiple ETFs.
$Ginkgo Bioworks (DNA.US)$: Ark Invest acquired a massive 2,170,433 shares through multiple ETFs.