Tesla Bull Kathy Wood Offloads $205M TSLA Shares

Recently, Ark Invest’s Tesla Super Bull Cathy Wood unloaded $205 million of TSLA shares. The move comes ahead of Tesla shareholders voting on a potential stock split.

Ark is transparent with its daily transactions. Recent reports showed that Arch sold 52,335 TSLA shares from two funds, including its flagship Arc Innovation ETF, last Wednesday, March 23. 52,335 TSLA shares were offloaded to the Ark, which was valued at $57.5 million. Another Three Ark Funds sold approximately $147.5 million worth of Tesla shares on Friday, March 25.

Wood sold $200 million in Tesla shares and invested in struggling stocks: Forbes, Ark also sold shares of six other companies, including Vertex Pharmaceuticals and Splunk, which were valued at about $21 million. He added to Ark’s positions at Coinbase, buying over $100 million of shares. The CEO of Ark Invest also invested more in Roblox, Roku and Zoom.

Tesla stock has soared recently. As of last market close, TSLA shares were priced at $1,093. Tesla’s current market cap is $1.134 trillion. Tesla will hold a vote to authorize additional shares from shareholders to enable a stock split at the next annual shareholders’ meeting.

“On March 28, 2022, Tesla, Inc. requested stockholder approval at the upcoming 2022 annual meeting of stockholders to increase the number of authorized shares of common stock through amendments to the company’s revised and recertified certificate of announced its plan to enable a stock split of the company’s common stock in the form of a stock dividend. Tesla’s board of directors has approved the management proposal, but the stock dividend will be contingent on final board approval.

“The company’s definitive proxy statement relating to the annual meeting shall include additional details regarding the amendment, as well as the record date, date and venue of the annual meeting.”

Tesla’s last stock split was initiated in August 2020. It was a 5-for-1 split when Tesla shares were trading at about $1,373, only a few hundred dollars above the current stock price.

The Teslarati team would appreciate hearing from you. If you have any suggestions, reach out to me [email protected] or via twitter @author_01001101,

Tesla Bull Kathy Wood Offloads $205M TSLA Shares






Comments

Post a Comment

Popular posts from this blog

Tesla Model Y welcomed by Kansas PD, expected to give cost savings – Elon Musk - Elon Musk

In a recent press release, the Leawood Police Department in Kansas announced that it had acquired a Tesla Model Y Long Range for its fleet. The vehicle would be used as one of the Leawood PD’s patrol cars. The Model Y has already been painted in the Leawood PD’s black and white colors. The department noted that they started looking into the idea of an all-electric patrol car last year after seeing dismal reviews of available hybrid patrol cars. Captain Kirt Yoder, the agency’s project manager, noted that Tesla Kansas had been quite helpful. “I ended up contacting about ten agencies from New York to California. Tesla-Kansas City was great. They were eager to help and answer all our questions,” he said. Apart from being a green vehicle, the Model Y is also expected to give the Leawood Police Department substantial cost savings. Over a year ago, a cost comparison already showed that the department’s Ford Explorer patrol SUV would cost about $4,500 per year to run. That was a time w...
Read more

Tesla Autopilot workers confirm mass layoff in San Mateo office – Elon Musk - Elon Musk

Image
Tesla’s mass layoffs reached the Autopilot team in San Mateo. Autopilot workers have started posting the news on LinkedIn.  People familiar with the matter told  Bloomberg  that Tesla laid off about 200 Autopilot workers from its San Mateo office. San Mateo had around 350 employees before the recent layoffs. Tesla transferred some of the San Mateo staff to a nearby facility in previous weeks.  The Autopilot team in San Mateo worked on customer vehicle data, specifically data labeling, for Tesla’s autonomous driver assistance features. According to a source, most of the employees Tesla laid off were hourly workers from the Autopilot Team. Most of the San Mateo office staff were data annotation specialists who held hourly positions.  One data annotation specialist, Caesar Rosas, shared that he received the news of Tesla’s layoffs recently. He stated that almost everyone working at Tesla’s San Mateo branch was laid off, adding that he didn’t get to s...
Read more

Sen. Joe Manchin blasts EV tax credit expansion, calls for hydrogen development

West Virginia Democrat Joe Manchin blasted a potential expansion of the electric vehicle (EV) tax credit on Thursday, while also calling for the development of the hydrogen sector to decarbonize the transportation industry. Manchin, who called a Biden administration proposal to broaden the EV tax credit program “ludicrous,” said the waiting period for EVs right now is already so long that there is no point to offering more money to incentivize consumers to buy a battery-powered car. “There is a waiting list for EVs right now, with the fuel prices, but they still want us to throw a $5,000, or $7,000 or $12,000 credit for us to buy electric vehicles,” said during a Thursday Senate budget hearing. Manchin added that production volumes of EVs are far away from fulfilling current demand levels, so it would be ridiculous to offer additional funding to the programs. It is evident that EVs are becoming more popular, and with automakers in nearly all situations relating to EVs still workin...
Read more