Cathie Wood Sells Another $112M In Tesla And Buys These Stocks Instead

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Cathie Wood-led Ark Invest further trimmed its Tesla Inc (NASDAQ:TSLA) stake on Monday.

The popular asset management firm sold 143,152 shares, estimated to be worth $111.87 million, in the Elon Musk-led company on Monday, its ninth such trade in Tesla since early September.

Including the latest sale, the New York-based money managing firm has sold about $719 million worth of shares in the Palo Alto, California-based company, beginning September.

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The New York-based investment firm sold shares in Tesla via the Ark Next Generation Internet ETF (NYSE:ARKW), the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ) and the Ark Innovation ETF (NYSE:ARKK) on Monday. 

Tesla shares, which have risen about 6% since Sept. 10, when Ark Invest began booking profit in the stock, closed 0.8% higher at $781.53 a share on Monday. On a YTD basis, Tesla shares have risen about 7.1% as of Monday’s close.

Wood’s firm holds large bets in Tesla, which it predicts will hit the $3,000 mark at the end of 2025. 

Each of the three ETFs count Tesla as their largest exposure and held a total of 3.60 million shares — worth $2.79 billion — in the electric vehicle company, ahead of Monday’s trade.

Ark Invest continues to have over 10% exposure to Tesla in each of its three active exchange-traded funds. 

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Here are some of the other key trades for Ark on Monday:

  • Bought 167,251 shares — estimated to be worth $9.76 million — in Twitter Inc (NYSE:TWTR), on the day shares of the Jack Dorsey-led social media company closed 5.79% lower at $58.39 a share.
  • Bought 54,625 shares — estimated to be worth $12.52 million — in Coinbase Global Inc (NASDAQ:COIN). COIN shares closed 0.80% lower at $229.31 on Monday.