TSLA - Cathie Wood's Ark Invest Sells Tesla Shares Worth $15.9M Bolsters Positions In Palantir By $14.9M | Benzinga
On Thursday, Ark Invest, under the leadership of Cathie Wood, executed significant transactions, including the sale of Tesla Inc (NASDAQ:TSLA) shares and the purchase of Palantir Technologies Inc (NYSE:PLTR). The fund management company sold a total of 62,367 Tesla shares, valued at $15.94 million, based on Tesla’s closing price of $255.70. The trade was made through the flagship ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW). This move comes amidst Tesla’s recent rally and ongoing discussions about the company’s potential in autonomous driving technology.
The Tesla Trade: Ark Invest’s decision to sell Tesla shares has been a recurring theme in recent days. On Wednesday, the firm offloaded $8.42 million worth of Tesla shares through its Innovation ETF. This followed a significant sale of nearly $20.56 million through the same ETF the previous day. Despite these sales, Ark remains bullish on Tesla’s future, projecting a stock price surge to $2,000 by 2027, largely driven by the anticipated launch ...