“Sister Wood” sold nearly $19 million worth of stock before Tesla released delivery data

"Sister Wood" sold nearly $19 million worth of stock before Tesla released delivery data

“Sister Wood” sold nearly $19 million worth of stock before Tesla released delivery data

Cathy Wood’s Ark Investment Management sold another 72,183 shares of Tesla( 261.77 , 4.27 , 1.66% ) shares, worth about $18.9 million, on Friday, just before Tesla released its second-quarter delivery numbers.

This is the seventh time that Wood’s company has reduced its holdings of Tesla this month. It has sold more than 630,000 shares and cashed out more than US$1.6 billion.

Wood’s fund has been selling shares in the company recently as Tesla’s stock price has continued to rise. In three trading days last week, the fund sold 108,805 Tesla shares, cashing out about $28.2 million.

Tesla shares rose 1.66% on Friday to close at $261.77. The cumulative increase in the first half of this year was 125.5%.

Data released by the company on Sunday showed 466,140 deliveries in the second quarter, an 83% increase from a year earlier and a record quarterly sales.

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