Cathie Wood Offloads Whopping $19M Tesla Stock Even As Bulls Brace For Q2 Deliveries Sunday
Portfolio Pulse from Shanthi Rexaline
Cathie Wood's Ark Invest sold 72,183 Tesla shares valued at about $18.9 million through its Ark Innovation ETF (ARKK) and Ark Next Generation Internet ETF (ARKW). This comes ahead of Tesla's Q2 deliveries report. Despite this, Ark's net buying this year remains positive. Tesla is expected to announce its Q2 deliveries on Sunday, with a company-compiled consensus of 446,823 units and a FactSet-compiled consensus of 445,000 units.
July 01, 2023 | 2:45 am
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NEUTRAL IMPACT
Ark Innovation ETF's sale of Tesla shares could potentially impact the ETF's performance, depending on the performance of its other holdings.
The sale of a significant amount of Tesla shares by Ark Innovation ETF could potentially impact the ETF's performance. However, the performance of the ETF's other holdings could offset this.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Ark Next Generation Internet ETF's sale of Tesla shares could potentially impact the ETF's performance, depending on the performance of its other holdings.
The sale of a significant amount of Tesla shares by Ark Next Generation Internet ETF could potentially impact the ETF's performance. However, the performance of the ETF's other holdings could offset this.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Ark Invest's sale of Tesla shares could potentially impact the stock's price. However, Tesla's upcoming Q2 deliveries report could also influence the stock's performance.
The sale of a significant amount of shares by a major investor like Ark Invest could potentially lead to a decrease in Tesla's stock price. However, the upcoming Q2 deliveries report, which is expected to show strong numbers, could offset this and potentially lead to an increase in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100