As Tesla Rides Trump Rally, Cathie Wood Sells $15.4M Worth Of Stock

Benzinga Neuro

November 19, 2024

On Tuesday, Cathie Wood-led Ark Invest made a notable move by offloading a significant number of shares in Tesla Inc (NASDAQ:TSLA). This decision comes amidst a surge in Tesla’s stock, fueled by reports of the incoming administration’s plans to ease restrictions on self-driving vehicles.

The TSLA Trade

Ark Invest’s decision to sell Tesla shares coincides with a period of significant growth for the electric vehicle giant. The company’s stock has been on an upward trajectory, largely due to reports suggesting that President-elect Donald Trump’s administration intends to prioritize a federal framework for autonomous vehicles. Such a move could potentially simplify the operation of self-driving cars, providing a significant boost to companies like Tesla.

According to data provided, Ark Invest sold 44,520 shares of Tesla on Tuesday. Given the closing price of $346 per share, the total value of the trade amounts to approximately $15.4 million. The trade was made through the ARK Innovation ETF (NYSE:ARKK).

Meanwhile, CNBC host Jim Cramer supports owning Tesla stock but dismisses reports of Trump easing self-driving regulations as a "bad reason" to buy. He highlights Tesla's strength as a tech company with high valuation potential beyond regulatory changes.

Other Key Trades:

See Also: Cathie Wood Draws Reagan-Era Parallels As Elon Musk Takes DOGE Helm: ‘This Bull Market Has Just Begun To

Ark purchased Intellia Therapeutics Inc. (NTLA) and Tempus AI Inc. (TEM) stock on Tuesday.
The firm sold stock of Rocket Lab USA Inc. (RKLB) and of Markforged Holding Corp. (MKFG).
Ark also sold Senti Biosciences Inc (SNTI) and Nurix Therapeutics Inc (NRIX) stock.

Read Next:

Peter Schiff Pokes Fun Of MicroStrategy’s Bitcoin Purchase: ‘Michael Saylor Is Gonna Need A Bigger Plan’

Recommended

Donald Trump Can't Save You From This Crisis - Ad

Exposed: 3 Cent Crypto to Explode December 16th? - Ad

December 16th - The Biggest Crypto Event in History - Ad

CAVA Group's remarkable 268% stock surge, bolstered by its strategic acquisition of Zoës Kitchen and innovative fast-casual model, positions it as a strong contender to challenge Chipotle's dominance in the restaurant industry.

Rigetti Computing Skyrockets To Record High As Investor Confidence Soars

The stock of Rigetti Computing has hit a new 52-week high, reaching $3.67.

Has the Tech Stock Selloff Finally Arrived?

Has the Tech Stock Selloff Finally Arrived? - Ad

After soaring over 150% in 2024 alone... is it actually time to buy Nvidia? A 50-year Wall Street veteran gives his answer to Nvidia, right here...Including the name and ticker of one under-the-radar AI stock to buy instead of Nvidia... before Tuesday, December 3rd.

China And Europe Markets Advance, Gold And Dollar Tick Higher - Global Markets Today While US Slept

US markets closed lower due to tech shares and UnitedHealth's decline. Jobless claims rose, while trade deficit narrowed. Asia markets mixed, oil prices fell.

Deal Dispatch: Ubisoft In Buyout Talks, Dental Supplier Explores Sale, Beloved Drive-Through Goes Bankrupt

Dental supply maker Patterson Companies Inc announced Thursday that it is exploring strategic options, including a sale or merger, to boost shareholder value.

Trump: The Bitcoin President

Trump: The Bitcoin President - Ad

Bitcoin surged past $100,000, driven by Trump's plan to make the U.S. the "Bitcoin Superpower." While most investors are buying Bitcoin, I've uncovered a $25 "Bitcoin loophole" that's set to deliver potential gains of 6,865% -- without needing to own any coins or ETFs.

US Stocks Pause, South Korea ETFs Fall On Political Turmoil, Oil Prices Rise Above $70: What's Driving Markets Tuesday?

U.S. stocks paused for a breather Tuesday, with major equity indices hovering near the flatline as investors digested global developments, including China’s ban on key raw material exports to the U.S.

Trump says he can't guarantee tariffs won't raise US prices and promises swift immigration action

WASHINGTON (AP) — said he can't guarantee that his on key U.S. foreign trade partners won't for American consumers and he suggested once more that some who pursued legal cases against him should be imprisoned.

Act by January 28th: Discover Elon's Mind-Blowing New Invention!

Act by January 28th: Discover Elon's Mind-Blowing New Invention! - Ad

When you click here you'll discover what Elon Musk's newest invention can do... And how it works... You might think it's straight out of a sci-fi movie. But Elon just conducted a real-life test on a human, and the outcome was astonishing.

Hunt for the gunman who killed UnitedHealthcare's CEO heads into third day as new clues emerge

NEW YORK (AP) — As the investigation into a masked gunman who the head of one of the largest U.S. health insurers moved into its third day Friday, possible leads emerged about his travel before the shooting and a message scrawled on ammunition found at the crime scene.

FBI tells telecom firms to boost security following wide-ranging Chinese hacking campaign

WASHINGTON (AP) — Federal authorities on Tuesday urged telecommunication companies to boost network security following that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans.

Gates-Backed Company Holds the Future of AI

Gates-Backed Company Holds the Future of AI - Ad

Bill Gates is making his next big bet. And this time, it's with artificial intelligence. Over the last several years, Gates has quietly invested more than $750 million into this technology. And he's not the only one. Warren Buffett, Peter Thiel, Jeff Bezos, and others are in on it too. In this new exposé, Porter Stansberry shares all the details.

Hong Kong will display 2,500 panda sculptures to capitalize on a local bear craze

HONG KONG (AP) — Thousands of giant panda sculptures will greet residents and tourists starting Saturday in Hong Kong, where enthusiasm for the bears has grown since

Tesla Chair Estimates New Pay Plan For Elon Musk Could Cost $25B More. Now, Delaware Judge Has Rejected It For The 2nd Time: Here's What's Coming Next

Delaware judge rejects $56B pay package for Tesla CEO Elon Musk, deeming it void and influenced by Musk. Tesla plans to appeal, creating uncertainty.

Single Stock Blueprint Available Now

Single Stock Blueprint Available Now - Ad

Market Wizard Larry Benedict is one of the most successful traders you'll ever meet...But he doesn't make money the traditional way. In short: It's a way to trade just one stock...And potentially make all the money you need to fast-track your retirement -- no matter what happens in the stock market.

Intel, Cleanspark, Super Micro Computer, Upstart, Tesla: Why These 5 Stocks Are On Investors' Radars Today

U.S. markets saw mixed results on Monday: the Dow Jones Industrial Average slipped 0.3% to 44,782, the S&P 500 edged up 0.2% to 6,047.15, and the Nasdaq climbed nearly 1% to close at 19,403.95. These are the top stocks that gained the attention of retail traders and investors throughout the day: Intel Corporation

Is Enron back? If it's a joke, some former employees aren't laughing

HOUSTON (AP) — An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001.

President Trump and Elon Musk Issue Stark Warning

President Trump and Elon Musk Issue Stark Warning - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

WWE is seeking a bigger stage and Netflix, pushing for more live events, is providing it

WWE will perform on a stage next month that could be vastly larger than its current home on cable television when “Raw,” its weekly live show, makes its debut on Netflix.

Bitcoin Back Crossed $100,000, Ethereum Hit $4,000: Friday In Review

Cryptocurrency markets had a bullish Friday, with Bitcoin's surpassing $100,000 for the second time and Ethereum crossing $4,000.

Elon Musk Is in Trump's "Inner Circle"

Elon Musk Is in Trump's "Inner Circle" - Ad

Elon Musk is one of Donald Trump's closest allies. James Altucher says that what Elon has planned next could lead to the world's first "Super-IPO" -- creating $100 billion on the first day it goes public! This "backdoor" play could be the best way to profit before the IPO...Starting with as little as $50.

Bitcoin SV Is Up 80% Over The Past Month: What's Going On?

Bitcoin's historic rise past $100,000 this week has sparked a surge of activity across the cryptocurrency market, bringing renewed attention to Bitcoin SV (CRYPTO:

Death sentence for real estate tycoon Truong My Lan upheld in Vietnam's largest fraud case

HANOI, Vietnam (AP) — The death sentence for real estate tycoon was upheld Tuesday in Vietnam's largest fraud case, the scale of which had raised concerns about the country's economy.

Why December 18th Will Impact Stocks More Than The Election

Why December 18th Will Impact Stocks More Than The Election - Ad

A man from a completely different government branch is going to stand up, say a few words... and make history in the stock market. This event comes along only every 25 years... And experts are already positioning themselves to profit from it.

Sam Altman Isn't Worried About Elon Musk's Trump Ties, But Admits xAI Is A 'Really Serious Competitor' To OpenAI: 'Elon Will Do The Right Thing'

Sam Altman downplayed concerns about Elon Musk's political ties to Donald Trump but acknowledged that Musk's AI startup, xAI, poses a serious threat to OpenAI.

Scaramucci on Trump Deportation Plan: 'We're Going To Have a Stock Market Crash'

Anthony Scaramucci sees promise in Trump's proposed Cabinet but fears that Trump's mass deportation plan could have severe economic repercussions.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Macro Guru Raoul Pal Predicts Crypto Market Cap Of $100 Trillion: 'The Architecture For The Digital Age'

Raoul Pal envisions a seismic shift in the global economy driven by technological innovation and a new political landscape.

Trudeau to meet with Canadian opposition leaders to discuss U.S. relations after Trump tariff threat

TORONTO (AP) — Canadian Prime Minister Justin Trudeau will have a meeting with all opposition leaders to discuss U.S.-Canada relations after U.S. President-elect Donald Trump on all Canadian products.

Why Is This Bull Run Scaring JP Morgan, Goldman Sachs, and Warren Buffett?

Why Is This Bull Run Scaring JP Morgan, Goldman Sachs, and Warren Buffett? - Ad

Billionaires Warren Buffett, Stanley Druckenmiller, and David Tepper have all sold off massive U.S. stock positions. Billionaire Ray Dalio, who runs one of the world's most successful hedge funds, says, "Things are going to get worse for our economy." What are these billionaires so worried about?

Member of Little Rock Nine christens nuclear submarine named for Arkansas

NEWPORT NEWS, Va. (AP) — The nuclear submarine USS Arkansas was christened Saturday, almost a decade in the making since the U.S. Navy announced that a Virginia-class submarine would bear the state's name.

44 years after New York couple vanished, car matching description of theirs is found in Georgia

BRUNSWICK, Georgia (AP) — A car similar to one driven by a wealthy New York couple missing for more than four decades has been found in a south Georgia pond near the hotel where they were last seen, police in Georgia said.

Forget Nvidia, Apple, Tesla, and Google

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

Tesla Cybertruck Crash In California Claims 3 Lives, Leaves 1 Seriously Injured

In a tragic incident early Wednesday, a Tesla Cybertruck crashed in Piedmont, California, resulting in three fatalities and one serious injury.

More than a million oven gloves are being recalled after consumers report 92 minor burns

NEW YORK (AP) — More than one million pairs of oven gloves are being recalled due to a burn hazard, after dozens of injury reports.

Huge Tesla Pivot Changes Everything

Huge Tesla Pivot Changes Everything - Ad

Elon Musk's new plan for Tesla's future has nothing to do with electric cars...TechRadar reports it "will blow your mind..." & McKinsey says it "will shape the coming decade." We recently got our hands on a video clip detailing this breakthrough.

Super Micro's shares jump after server maker says review finds no evidence of misconduct

NEW YORK (AP) — Just over a month after Ernst & Young , Super Micro Computer says a review committee has found no evidence of fraud or misconduct among the server maker’s leadership.

Northern Star Acquires De Grey For $3.3 Billion, Secures Promising Tier 1 Asset

Northern Star Resources announced $3.3B acquisition of De Grey Mining's Hemi gold project, boosting overall production to 2.5M ounces annually by 2029.

My TOP Altcoin for Right Now Is...

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Mohamed El-Erian Calls Michel Barnier's Ouster An Example Of 'Messy Politics,' Notes Greek And French Bonds Achieving Historic Parity

Mohamed El-Erian, Allianz's Chief Economic Advisor, warned Wednesday Dec. 4, 2024 about the growing intersection of political and economic challenges in France following Prime Minister Michel Barnier's historic no-confidence ouster, even as Greek bonds achieved parity with French sovereign debt for the first time since the Eurozone crisis.

Trending Now