The famed Wall Street money manager has previously said the electric-vehicle company could be worth more than $1 trillion.
Ark Invest, the New York City investment firm founded by famed Wall Street stock-picker Cathie Wood, sold off a massive stake in Tesla on Wednesday, joining a crop of insiders in cashing out of shares this week as the stock recovers from its lackluster performance this year....
The newest transactions come just days after Wood touted Tesla's success and gave shares a price target of $3,000 in anwith Yahoo! Finance, saying the company's growing market share makes it poised to benefit from a nearly 18-fold increase in electric-vehicle sales by 2025. Though they've climbed about 6% over the last month, shares of Tesla, priced at about $757.50, are down nearly 15% from an all-time high in January.
Meanwhile, Wood isn't alone among noteworthy Tesla investors selling off shares after the recent runup in prices: Three company officers, including two c-suite executives, sold about $4 million worth of stock in a series of transactions this week, according to
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