Welcome, reader! Are you curious about the recent Tesla stock news? You might have heard that Cathie Wood of Ark Invest is selling TSLA stock. But why? In this blog post, I’ll explore the reasons behind her decision and also discuss the current Tesla stock price targets. So, grab a cup of coffee and join me as we delve deeper into the world of Tesla stocks.
Tesla Stock News: Why is Cathie Wood of Ark Invest Selling TSLA stock? Tesla stock price targets!
If you follow Tesla closely, you may have noticed a recent sell-off in the company’s stock. So, what is going on? Is Tesla still a good investment? In this article, we’ll explore the latest Tesla stock news and provide insights into why Cathie Wood of Ark Invest is selling TSLA shares and Tesla stock price targets.
Introduction
In May 2021, Elon Musk announced at the VivaTech conference in Paris that Tesla is close to achieving complete vehicle autonomy. However, Tesla’s “full self-driving” capability still requires the driver to remain fully attentive and ready to take over when needed. Additionally, Musk emphasizes the need for AI regulation due to potential negative consequences of digital superintelligence. With these developments in mind, let’s explore the latest news from Cathie Wood’s Ark Invest.
Cathie Wood Sells TSLA Shares
Cathie Wood, CEO of Ark Invest, recently purchased shares of Zoom Video Communications and sold shares of Tesla and Shopify. Tesla remains the largest holding in Ark Innovation ETF, with a five-year price target of $2,000. However, Wood’s firm also purchased shares of Teladoc Health, valued at $3.6 million. With this growth, we can speculate about why Cathie Wood chose to sell Tesla’s shares and what her exit means for current and potential investors.
Tesla Stock Price Targets
Tesla’s stock has been volatile in the past few months, and it is critical to examine analysts’ opinions and price targets. Currently, the consensus rating for Tesla is a “hold” on Yahoo Finance, and the company’s stock price has fallen slightly below that of its competitors. However, it’s worth noting that Tesla’s fundamentals, such as revenue and earnings, continue to improve. As of June 2021, Tesla had earned roughly $31.52 billion in the past 12 months. This improvement means Tesla is recording higher revenues than its peers, and it has brought Tesla’s price-to-sales ratio down to just over seven, providing investors with a discount relative to the company’s growth potential.
Some experts believe that Tesla is likely to continue to perform well. Additionally, as mentioned earlier, Cathie Wood’s Ark Invest still views Tesla as a long-term hold, making it a smart pick for investors who are comfortable with high risk and can exercise patience.
Conclusion
In conclusion, Tesla remains a hot topic in investing communities, and investors have questions about the recent sell-offs and what they mean for the company’s future. It’s worth noting that investing always comes with some risk, but by staying informed and disciplined, investors can make informed decisions and achieve their financial goals. Remember, this article is not financial or investment advice, and you should always seek professional guidance before making any investment decisions.
Sources for this information can be found in the links provided.
