Cathie Wood, CEO of Ark Invest, despite forecasting a significant rise in Tesla's stock value, has overseen the sale of over 1 million Tesla shares from Ark Invest funds, worth over $200 million, in the past six months. Ark hasn't bought any additional Tesla shares in over 6 months but has sold the stock over 50 times during that period. Tesla is no longer Ark's top holding. Wood hasn't changed her bullish outlook on Tesla publicly, but Ark's actions suggest less confidence than its $2,000 price target would imply. Tesla's stock has fallen sharply since its last earnings report missed expectations, which brings concerns about slowing growth.
