Cathie Wood's ARK Keeps Selling Tesla Stock Despite Bullish Dreams
In a surprising twist, Cathie Wood’s ARK Innovation ETF has sold over 200,000 Tesla shares in December 2024, even while maintaining a bullish long-term outlook on the EV giant. While Tesla remains ARKK’s largest holding, the move appears to be part of a broader portfolio rebalancing strategy, ensuring diversification and risk management. This is despite Tesla's stock enjoying a 24.8% rally in December. Experts suggest these sales are tactical, aimed at preventing overexposure, and not a bearish signal. Public opinion remains divided, with some praising Wood's strategy and others questioning the decision amid ARKK's complex performance history.
Dec 25