As reported by Bloomberg, Ark Investment’s exchange-traded funds have dumped approximately $66 million worth of Tesla shares (89,000 shares) in order to grab more stocks of Robinhood—a trading app that works with stocks and cryptocurrencies.

Cathie Wood sees Tesla shares at $3,000, but Ark is trimming its stake https://t.co/S9YL6nvlaq

— Bloomberg Markets (@markets) September 15, 2021

So far, Ark Investment has sold $200 million worth of Tesla’s stocks this month. After selling the shares of the e-car giant, Cathie Wood’s fund added $10 million worth of Robinhood (over 236,000) shares that continue to trade in a downtrend after dropping 43% from the high at the start of August.

So far, Ark’s ETFs have added around 390,000 Robinhood shares in September.

In the past five months, Ark sold more than a million Tesla shares. However, the shares of the giant run by Elon Musk remain the fund’s largest holding of over $4 billion worth.

Part of Ark’s investment strategy is to sell its highly evaluated holdings in order to invest in other companies.

Related

Earlier, Cathie Wood made a prediction that, by 2025, Tesla shares would be worth $3,000. She has also recently stated that she expects Bitcoin to rise to more than $500,000 within the next five years and said that Ark’s confidence in Ethereum has gone up significantly.

Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.

As reported by Bloomberg, Ark Investment’s exchange-traded funds have dumped approximately $66 million worth of Tesla shares (89,000 shares) in order to grab more stocks of Robinhood—a trading app that works with stocks and cryptocurrencies.

Cathie Wood sees Tesla shares at $3,000, but Ark is trimming its stake https://t.co/S9YL6nvlaq

— Bloomberg Markets (@markets) September 15, 2021

So far, Ark Investment has sold $200 million worth of Tesla’s stocks this month. After selling the shares of the e-car giant, Cathie Wood’s fund added $10 million worth of Robinhood (over 236,000) shares that continue to trade in a downtrend after dropping 43% from the high at the start of August.

So far, Ark’s ETFs have added around 390,000 Robinhood shares in September.

In the past five months, Ark sold more than a million Tesla shares. However, the shares of the giant run by Elon Musk remain the fund’s largest holding of over $4 billion worth.

Part of Ark’s investment strategy is to sell its highly evaluated holdings in order to invest in other companies.

Related

Earlier, Cathie Wood made a prediction that, by 2025, Tesla shares would be worth $3,000. She has also recently stated that she expects Bitcoin to rise to more than $500,000 within the next five years and said that Ark’s confidence in Ethereum has gone up significantly.

Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.