Cathie Wood's Ark Invest Keeps On Cutting Tesla Holdings, Sells More Than $8M Worth Of EV Maker's Shares

On Tuesday, Cathie Wood-led Ark Invest made a notable move by selling over $8 million worth of Tesla Inc 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 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 $2,000 Tesla price target is still in play.

See Also: Ark Invest Was There With Nvidia At $5

Other Key Trades:

• Ark Invest purchased 370,190 shares of PagerDuty Inc PD, through ARKK and ARK Next Generation Internet ETF ARKW.
• The fund also bought shares of CRISPR Therapeutics AG CRSP and Intellia Therapeutics Inc NTLA through ARKK and ARK Genomic Revolution ETF ARKG.
• A sale of 52,565 shares of DraftKings Inc DKNG was also executed through ARKW.

Illustration made using Ark Invest photo.

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