Cathie Wood Has Stuck With Tesla Through Repeated Missed Robotaxi Deadlines. Here's Why She's Still Buying.
Tesla's future hinges on one key catalyst.
Overview
Ark Invest, Cathie Wood's investment firm, has traded in and out of Tesla (NASDAQ: TSLA) stock for nearly a decade. It turns out, however, that the firm might have been better off never selling down its position.
In 2016, for example, Ark Invest acquired its first stake in Tesla at roughly $13 per share. In 2017, the firm purchased the stock every quarter at prices between $17 and $22 per share. In 2018, the buying continued through the first three quarters of the year at prices ranging from $20 to $22 per share.
Details
In the fourth quarter of 2018, however, Ark Invest unloaded 5 million Tesla shares at roughly $21.50 per share, nearly cutting its stake in half. With Tesla stock now trading at nearly $400 per share, slashing its Tesla stake so early in the company's growth journey was clearly a mistake.
Source
Originally published at www.fool.com.
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