Cathie Wood’s ARK Invest Dumps $90 Million Worth of Tesla Stock
A couple of Cathie Wood's ARK Invest exchange-traded funds sold nearly 90,000 shares of Tesla on January 13.
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A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Thursday. Specifically, these ETFs sold roughly $90 million worth of Tesla Inc. (NASDAQ: TSLA | TSLA Price Prediction) altogether, as the prices of these funds were down over 5% on the day. Note that these funds are mostly down over the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 71,638 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 16,118 shares. At Thursday’s closing price, this would have valued the sales at roughly $90.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation fund was down 44% in the past year, and the internet fund is down about 34%.
Check out all the ARK Invest sales for Thursday as well:
| Fund | Ticker | Name | Shares |
|---|---|---|---|
| ARKF | SNAP | SNAP | 70,462 |
| ARKG | EVGN | EVOGENE | 2,900 |
| ARKG | AQB | AQUABOUNTY TECHNOLOGIES | 14,575 |
| ARKG | VRTX | VERTEX PHARMACEUTICALS | 38,821 |
| ARKK | TSLA | TESLA | 71,638 |
| ARKK | IRDM | IRIDIUM COMMUNICATIONS | 45,700 |
| ARKK | EDIT | EDITAS MEDICINE | 26,523 |
| ARKQ | TER | TERADYNE | 8,176 |
| ARKW | SNAP | SNAP | 34,881 |
| ARKW | TSLA | TESLA | 16,118 |
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St., owner of 247wallst.com.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
