"wooden Sister" Cathie Wood flagship fund ARKK recently sold Tesla, Inc.143700 shares worth US $108 million; ARKW and ARKQ also reduced Tesla, Inc. 's holdings. "wooden Sister" expected Tesla, Inc. to rise to $3000 on Friday, and analysts said her latest shipment was in the high band.
ARKK, the flagship fund of "wooden Sister" Cathie Wood, recently sold 143700 shares of Tesla, Inc., valued at $108 million, ARKW sold 22600 shares of Tesla, Inc., valued at $17.04 million, and ARKQ sold 7919 shares of Tesla, Inc., valued at $5.97 million, according to data as of Sept. 9.
Tesla, Inc. 's share price, which has been relatively strong in recent months, closed up 0.13 per cent at $753.87 on Wednesday, outperforming the broader US market, a price that has rebounded about 38 per cent from its mid-May low. Analysis said that "wooden Sister" small sell-off Tesla, Inc., is in every high shipment to do band trading. Tesla, Inc. remains one of its most important positions.
In an interview with Yahoo Finance on Friday, Wood said her basic estimate for Tesla, Inc. is to reach $3000 a share. She believes that Tesla, Inc. 's chances of success are on the rise, mainly because of his market share. From the end of 2017 to the present, Tesla, Inc. 's market share has not declined, but has risen sharply. New electric cars from more established carmakers will only validate Tesla, Inc. 's strategy. In addition, Wood is optimistic about the market potential of electric vehicles in China.
The latest data also show that wooden Sister's ARKQ fund sold 66900 shares of NXP, valued at $13.92 million, 30300 shares of NVIDIA Corp, valued at $6.76 million, and 197800 shares of Novartis, valued at $17.32 million.
On Wednesday, the Securities and Exchange Commission (SEC) threatened to sue Coinbase. Coinbase has been notified that SEC may take enforcement action against its interest-bearing product, which the company had planned to launch in the coming weeks. Several ETF of "wooden Sister" also reduced their holdings of Coinbase, of which ARKK reduced its holdings by 30700 shares, valued at US $7.92 million, and ARKW reduced its holdings by 8340 shares, valued at US $2.15 million.
According to news released last month, Michael Burry, the prototype of the movie "Big short", held more than 230000 put options on ARKK, the main fund of "wooden Sister" in the second quarter, and bet against Tesla, Inc., a heavy stock in ARKK, in the second quarter. In response, "wooden Sister" replied, saying that Burry does not understand the field of innovation. Not only Burry, but also the short mood of the "wooden Sister" fund as a whole is at a high level. In response, "wooden Sister" believes that many bears betting on the collapse of ARK Innovation's flagship innovation ETF think that the stock market is in a bubble. "in fact, we can't get any farther from the bubble", and the current negative market sentiment happens to be a "negative signal".
ARKK focuses on companies that apply revolutionary technologies such as artificial intelligence, robots, electric vehicle finance technology, 3D printing and blockchain, in addition to Tesla, Inc., but also invests in Zoom, a teleconferencing software company.Growth stocks such as Coinbase, the largest cryptocurrency exchange in the United States.
ARKK was one of the best-performing ETF in the US market last year, with an increase of 149% last year and a tenfold increase in management. This growth rate is unprecedented among active ETF funds, so the "wooden Sister" was once praised as the "female version of Buffett" by the US media.
ARKK's fund's returns fell after late February, as technology growth stocks rose sluggishly. By the trough of mid-May, it had fallen more than 30 per cent from its peak in early February, but has rebounded since then, but the flagship fund ARKK has still had negative returns so far this year, down nearly 2 per cent.
Source: Wall Street