Cathie Wood Sells Tesla: Cathie Wood, the renowned investment manager who has made a name for herself by betting big on disruptive technologies, has sold a significant portion of her Tesla stake.
The move comes amid a broader sell-off in tech stocks, as investors worry about rising inflation and the potential for a recession.
Cathie Wood Sells Tesla As Musk Vs. Zuckerberg Goes Gladiator
Cathie Wood, the founder, and CEO of ARK Invest, has been a vocal supporter of Tesla stock for years. In 2020, she predicted that Tesla’s stock price could reach $3,000 per share by 2025. However, Wood has recently begun to sell Tesla stock, and her actions have raised eyebrows.
You should know that Wood’s ARK Investment Management sold 76,425 shares of Tesla on Thursday for about $18.75 million, based on TSLA’s closing price of 245.34.
Wood’s ARK Innovation ETF (ARKK) and ARK Autonomous Technology and Robotics ETF (ARKQ) both sold Tesla stock on Thursday.