Cathie Wood's Ark Investment Management continued its selling spree of $Tesla (TSLA.US)$ stock after the investment management firm offloaded $270 million worth of the electric vehicle maker's shares Tuesday.
Three of Wood's exchange-traded funds -  $ARK Innovation ETF (ARKK.US)$ ,  $ARK Autonomous Technology & Robotics ETF (ARKQ.US)$ , and $ARK Next Generation Internet ETF (ARKW.US)$ - cumulatively sold more than 340,000 Tesla shares Tuesday, according to its daily trading update.
Social Capital founder and CEO Chamath Palihapitiya also revealed that he sold his Tesla position for capital to invest in other investment ideas. He said he exited his bet on the Elon Musk-led electric vehicle company “in the last year or so” as the high prices allowed him to generate cash to fund his other ideas.
Are they trying to avoid some risks that we're not aware of? Or maybe we should stop over-interpreting their moves?
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Cathie Wood dumps biggest chunk of Tesla stock in her recent string of sales