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.
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.
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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%.
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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 writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
