Cathie Wood Sells $25 Million In Tesla Stock As TSLA Flashes Aggressive Buy Signal

Cathie Wood and her Ark Invest firm sold more than $25 million in $Tesla (TSLA.US)$ stock this week, with the bulk coming Wednesday as TSLA led the S&P 500 index, powering above a key level.

Cathie Wood's Ark Investment Management sold 97,599 Tesla shares for around $25.5 million Wednesday, based on Tesla stock's closing price of 261.16, according to the company's daily trade disclosure. On Thursday, Wood then sold a modest 107 TSLA shares for around $27,825, based on the 260.05 price at the close.

Wood's Tesla trades were done through the $ARK Innovation ETF (ARKK.US)$ , $ARK Next Generation Internet ETF (ARKW.US)$ and $ARK Autonomous Technology & Robotics ETF (ARKQ.US)$ TSLA is the top holding in Cathie Wood's ARKK, with an 10.87% weight. In ARKQ, Tesla is also the top stock with an 14.55% weight. Meanwhile, in ARKW, Tesla sits fourth with a 6.64% weight.

Tesla stock dropped early before advancing 0.2% to 260.55 Friday during market action. On Thursday, shares dropped 0.4% to 260.05. On Thursday night, the global EV giant chopped U.S. Model 3 and Model Y prices, reducing the base Model 3 RWD price by $1,250 to $38,990 and the Model Y Long Range by $2,000 to $48,490.

With Tesla bulls betting on a fourth-quarter rebound in deliveries with the revamped Model 3 in China and the expected Cybertruck delivery launch, Tesla stock surged 5.9% to 261.16 on Wednesday.