Tesla Bull ARK Sells Over 85,000 Shares to Even Out ETFs

Cathie Wood's ARK Investment Management sold a large chunk of its Tesla shares to balance holdings in its exchange-traded funds (ETFs).

The move comes as Tesla's stock price has surged in recent months, leading to a significant increase in the weighting of Tesla in ARK's ETFs. By selling some of its Tesla shares, ARK is reducing the risk of its ETFs becoming too concentrated in a single stock.

ARK's sale of Tesla shares is a reminder that even the most bullish investors need to manage their risk. While Tesla has been a major winner for ARK, the company's stock price is volatile and could decline in the future.

Here are some additional details about ARK's sale of Tesla shares:

ARK sold 85,586 shares of Tesla on March 22, 2023.

The sale was made to balance holdings in ARK's ETFs.

Tesla's stock price has surged in recent months, leading to a significant increase in the weighting of Tesla in ARK's ETFs.

ARK's sale of Tesla shares is a reminder that even the most bullish investors need to manage their risk.

It is important to note that ARK's sale of Tesla shares does not necessarily mean that the company is bearish on Tesla. ARK has been a long-term supporter of Tesla and has repeatedly said that it believes in the company's long-term potential.

However, ARK's sale of Tesla shares is a reminder that all investments carry risk. Even the most successful companies can experience setbacks, and investors should always diversify their portfolios to reduce risk.