TSLA - Cathie Wood's Ark Invest Keeps On Cutting Tesla Holdings Sells More Than $8M Worth Of EV Maker's Shares | Benzinga
On Tuesday, Cathie Wood-led Ark Invest made a notable move by selling over $8 million worth of Tesla Inc (NASDAQ:TSLA) shares. This significant trade comes amidst a series of Tesla disposals by Ark, marking the third consecutive session of selling the electric vehicle giant’s stock.
The Tesla Trade
Ark Invest sold 31,418 shares of the Elon Musk-led company through its flagship ARK Innovation ETF (NYSE:ARKK). The transaction was valued at $8.28 million — based on Tesla stock’s closing price of $263.62 on Tuesday.
The sale is particularly notable given Ark’s consistent acquisition of Tesla shares in the preceding weeks. It should be noted that the EV maker’s recent bullish run has pulled Ark’s ETFs higher. Interestingly, Wood’s ...