Here's Why I Think Cathie Wood Is Selling Tesla Stock

According to the latest filings, Cathie Wood and her Ark Invest recently sold 181,294 shares of Tesla (NASDAQ: TSLA). It's a slightly surprising move considering how bullish Wood has been about her Tesla position. She has a long-term price target of $2,600 for Tesla stock.Why is Wood selling? The first thing to understand is that Tesla is still the biggest holding in Ark Invest's portfolio. The firm owns more than 3 million shares worth approximately $1 billion. So while the position comprised 8.5% of Ark Invest's portfolio last quarter, it still has a weighting of 7% after the recent sale. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool