As Tesla Rides Trump Rally, Cathie Wood Sells $15.4M Worth Of Stock

On Tuesday, Cathie Wood-led Ark Invest made a notable move by offloading a significant number of shares in Tesla Inc TSLA. This decision comes amidst a surge in Tesla’s stock, fueled by reports of the incoming administration’s plans to ease restrictions on self-driving vehicles.

The TSLA Trade

Ark Invest’s decision to sell Tesla shares coincides with a period of significant growth for the electric vehicle giant. The company’s stock has been on an upward trajectory, largely due to reports suggesting that President-elect Donald Trump’s administration intends to prioritize a federal framework for autonomous vehicles. Such a move could potentially simplify the operation of self-driving cars, providing a significant boost to companies like Tesla.

According to data provided, Ark Invest sold 44,520 shares of Tesla on Tuesday. Given the closing price of $346 per share, the total value of the trade amounts to approximately $15.4 million. The trade was made through the ARK Innovation ETF ARKK.

Meanwhile, CNBC host Jim Cramer supports owning Tesla stock but dismisses reports of Trump easing self-driving regulations as a “bad reason” to buy. He highlights Tesla’s strength as a tech company with high valuation potential beyond regulatory changes.

Other Key Trades:

See Also: Cathie Wood Draws Reagan-Era Parallels As Elon Musk Takes DOGE Helm: ‘This Bull Market Has Just Begun To

• Ark purchased Intellia Therapeutics Inc. (NTLA) and Tempus AI Inc. (TEM) stock on Tuesday.
• The firm sold stock of Rocket Lab USA Inc. (RKLB) and of Markforged Holding Corp. (MKFG).
• Ark also sold Senti Biosciences Inc (SNTI) and Nurix Therapeutics Inc (NRIX) stock.

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