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Cathie Wood Sells Another $3M Shares In Tesla On Wednesday — Here’s What She Bought Instead – Tesla Motors (TSLA)



Cathie Wooden’s Ark Funding Administration on Friday booked extra revenue in Tesla Inc (NASDAQ:TSLA), promoting 2,656 shares — estimated to be price $2.9 million based mostly on the newest closing worth — within the electrical car maker.

The Elon Musk-led firm’s inventory closed 3.9% increased at $1,106.2 per share on Wednesday.

Ark Make investments owns shares in Tesla through three of its exchange-traded funds — the Ark Innovation ETF (NYSE:ARKK), the Ark Autonomous Know-how & Robotics ETF (BATS:ARKQ) and the Ark Subsequent Era Web ETF (NYSE:ARKW).

The three ETFs held about 1.61 million shares price $1.72 billion in Tesla, previous to Wednesday’s commerce.

Tesla ended 2021 on a excessive because it posted its greatest quarterly and full-year supply quantity. The Austin, Texas-based electrical car maker’s Giga Shanghai accounted for greater than half of the electrical car maker’s international deliveries in 2021.

See Additionally: Tesla Noticed 52% Of 2021 International Deliveries From Giga Shanghai Alone

Wooden, who based Ark Make investments, is a Tesla bull and has set a $3,000 worth goal for the electrical car inventory for 2025. The funding agency has been promoting shares in Tesla since September after shares moved increased to breach the $1 trillion market cap.

The St. Petersburg, Florida-based Ark has additionally been lately loading up shares within the U.S.-listed Chinese language electrical car maker Xpeng Inc (NYSE:XPEV).

See Additionally: Cathie Wooden Makes First Purchase In An EV Maker In 2022 — And It is Not Tesla

Listed here are a couple of different key Ark Make investments trades from Wednesday:

  • Purchased 70,259 shares — estimated to be about $12 million — in  Zoom Video Communications Inc (NASDAQ:ZM) on the dip. The Zoom inventory closed 3% decrease at $170.6 a share on Wednesday.
  • Purchased 628,636 shares — estimated to be price $10.5 million — in Palantir Applied sciences Inc (NYSE:PLTR). Shares of the corporate closed 1% decrease at $16.7 a share.

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