The investment management business received $8.6M in exchange for selling 31,500 shares.
73,113 Tesla shares were sold by Cathie Wood’s firm on June 16 for about $19.05 million.
Despite the electric vehicle (EV) titan reaching eight-month highs and up over 28% in June, the Cathie Wood-led Ark Invest business cut large Tesla stock holdings on Tuesday. The investment management business received $8.6 million in exchange for selling 31,500 of Elon Musk’s Tesla shares.
Ark Invest, led by Cathie Wood, liquidated its Tesla stock holdings the day before Elon Musk’s meeting with the Indian PM because the business plans to invest in India.
Yesterday, Tesla stock finished nearly 5% higher, for a monthly gain of 45.31%, trading at $274. Ark Investment has been on a buying and selling binge as it continues to reap huge gains from its holdings in Tesla. When Tesla’s stock dropped last year, Ark pounced.
Cathie Backs Coinbase
An earlier transaction involving 73,113 Tesla shares was completed
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