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Cathie Wood's Massive Bet On Tesla Stock, Tesla Stock Will Double in 2021: Cathie Wood Explains

1 month ago
Cathie Wood's ARK Invest Dumps Over $73 Million Worth of Tesla Stock A couple ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Friday, as the stock market hit fresh all-time highs. Specifically, these ETFs sold roughly $73 million worth of Tesla Inc. (NASDAQ: TSLA), as the prices of these funds were down more than 1% on Friday. Note though that they are up a fair amount in the past year. ARK Innovation ETF (NYSEARCA: ARKK) sold 47,484 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 32,870 shares. At Friday’s closing prices, this would have valued the sales at roughly $73.1 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. ARK Innovation is up 21% and the other is up 32% in the past year. Tesla prices are rising just like prices for all cars are rising. Strong demand coming out of the 2020 pandemic, combined with weak industry production caused by supply-chain problems and a global semiconductor shortage, have created a classic supply-and-demand imbalance for everyone in the car business. “Companies change pricing all the time. The difference is that when Tesla changes pricing, it’s extremely transparent,” said Chief Financial Officer Zachry Kirkhorn. “We’re balancing supply and demand, as we’re [balancing] various shortages on parts, as we’re trying to manage wait times. All of that goes into the optimization here.” Overall, Kirkhorn described optimizing pricing in 2021 as “really difficult.” The difficulty might not end in 2021. The bottom line is car prices will keep going up until supply-chain woes subside, commodity prices normalize and the chip industry manufactures more semiconductors. That could take several more quarters. please subscribe to my channel ! #Cathiewood #arkinvest #Tesla Music in the video Vacation by Markvard Creative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: Music promoted by Audio Library –––––––––––––––––––––––––––––– 🎵 Track Info: Title: Vacation by Markvard Genre and Mood: Dance & Electronic + Happy Sources Ark's Cathie Wood on Tesla, Crypto, China, Investing Cathie Wood's ARK Invest Dumps Over $73 Million Worth of Tesla Stock Tesla Raises Prices Again. Why It Isn’t an Issue for the EV Giant. Tesla Crosses $1 Trillion Market Cap Thanks to Hertz
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