Part 6/13:
In stock market news, notable investor Kathy Wood and her ARK Invest funds have continued their strategic stock sales. She sold approximately seven million dollars worth of Tesla stock recently, with her overall stake decreasing to about 8% of her fund’s holdings. While this is a modest reduction compared to earlier in the month, it mirrors a broader trend of profit-taking or rebalancing among large Tesla holders.
Interestingly, her other fund still holds a significant 15.3% in Tesla, much higher than the typical threshold that fund managers often avoid exceeding (10%). Critics suggest that such concentrated holdings could pose risks if Tesla's stock price were to decline, but Woods’ historically contrarian perspective has often paid off.