Cathie Wood Trims Tesla Stake, Shifts Focus To This Lesser-Known Stock

Cathie Wood has sold some of her Tesla stock

Cathie Wood, the founder and CEO of Ark Investment Management, has sold some of her Tesla stock. Wood has been a vocal supporter of Tesla in the past, but she has recently shifted her focus to other stocks.

Wood's stake in Tesla has declined

Wood's stake in Tesla has declined from 10% to 6%. This is a significant decrease, but it is still a substantial stake in the company.

Why has Wood sold some of her Tesla stock?

There are several reasons why Wood may have sold some of her Tesla stock. One possibility is that she believes that the stock is overvalued.

Tesla's stock price has been volatile

Tesla's stock price has been volatile in recent months. The stock price has fallen from over $1,200 per share to under $900 per share.

Wood may be concerned about Tesla's competition

Tesla is facing increasing competition from other electric vehicle manufacturers. This competition may erode Tesla's market share and put pressure on its stock price.

What does this mean for investors?

Wood's decision to sell some of her Tesla stock is a sign that she is concerned about the company's future prospects. Investors should consider this information when making their own investment decisions about Tesla.

Where has Wood shifted her focus?

Wood has shifted her focus to other stocks, including Roku, Zoom, and Coinbase. These stocks are all in high-growth industries, and they could benefit from Wood's investment.

What does this mean for the future of Tesla?

It is difficult to say what the future holds for Tesla. The company is still a leader in the electric vehicle market, but it is facing increasing competition. Wood's decision to sell some of her Tesla stock is a sign that she is concerned about the company's future prospects.

Disclaimer

I am not a financial advisor and this is not financial advice. Do your own research before making any investment decisions.