Cathie Wood Sells Another $41M In Tesla On A Day Stock Crashes 6% — These Are The Other Key Trades

Cathie Wood-led Ark Invest on Thursday sold 40,861 shares — estimated to be worth $41 million — in Tesla Inc TSLA, a stock which despite recent dips is still fetching profit for the popular money manager who bought TSLA shares at far lower levels.

Tesla shares closed 6.10% lower at $1003.80 a share on Thursday. The stock is up about 37.5% so far this year.

See Also: Why Cathie Wood Now Expects Ark's Flagship Fund To Quadruple In 5 Years

A Tesla bull, Wood’s firm Ark Invest bought shares in Tesla via three actively traded exchange funds, namely the Ark Innovation ETF ARKK, the Ark Next Generation Internet ETF ARKW and the Ark Autonomous Technology & Robotics ETF (BATS ARKQ) on Thursday. 

The three ETFs held 2.07 million shares, worth about $2.07 billion, ahead of Thursday’s trade.

Tesla shares have been on a stark rise after the company reported third-quarter delivery numbers. The surge in share price after months of sluggishness helped the stock join the $1 trillion market capitalization club in October. 

The stock tumbled on Thursday after a fresh NHTSA scrutiny on a new feature in Tesla cars that lets users play video games while the vehicle is in motion. 

See Also: Cathie Wood Sells Another $63M In Tesla On Wednesday And Raises Exposure In These Stocks

Despite the recent sales, Tesla continues to be the investment management firm's biggest bet across ETFs — a stock it predicts would hit the $3,000 mark by the end of 2025.

Here are a few other key trades for Ark on Thursday:

• Sold 69,772 shares — estimated to be worth $10.67 million — in Walt Disney Co DIS. The stock closed 0.26% lower at $152.94 a share. This would be Ark Invest’s first sale in Disney after it first bought shares in Disney in May.
• Sold 19,532 shares — estimated to be worth $3.75 million — in PayPal Holdings Inc PYPL. The stock closed 2.84% lower at $191.75 a share.