Cathie Wood May Be Betting on General Motors But TSLA Stock Is Still the Best

InvestorPlace2022-05-11

Even Cathie Wood can’t keep Tesla(NASDAQ:TSLA) stock down. Recently, the famed investor announced that Ark Invest sold some shares of TSLA to take a position in General Motors(NYSE:GM). While this ...

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Comments

soosoo
2022-05-12
soosoo
Yes
Fiona888
2022-05-12
Fiona888
Yes
Fiona888
2022-05-12
Fiona888
Yes
RS142
2022-05-11
RS142
Tsla 👍
CTJL
2022-05-11
CTJL
See-saw talk.[Facepalm] [LOL]
ping23
2022-05-11
ping23
pls like

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Recently, the famed investor announced that Ark Invest sold some shares of TSLA to take a position in General Motors(NYSE:GM). While this ...</p>\n\n<a href=\"https://investorplace.com/2022/05/cathie-wood-may-be-betting-on-general-motors-but-tsla-stock-is-still-the-best/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TSLA","symbol_name":"特斯拉","start_time":0,"source_url":"https://investorplace.com/2022/05/cathie-wood-may-be-betting-on-general-motors-but-tsla-stock-is-still-the-best/","article_id":"1101042163","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1101042163","pubTimestamp":1652238361,"columns":[],"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"Even Cathie Wood can’t keepTesla stock down. 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While this doesn’t sound like good news for Tesla, the electric vehicle(EV) leader began today trading in the green. Of course, there’s plenty of time left in the day. However, given the broad bearish energy sweeping across markets right now, TSLA is already performing better than expected.Today, TSLA stock rose 1.64%. Negative energy is strong right now as fear continues to cast a dark shadow over the financial markets. However, TSLA is determined to keep fighting to stay in the green. After some turbulence last week, the stock is reassuring investors that better days are ahead.The news from Wood isn’t helping shares stay elevated, but let’s examine the story in context.What’s Happening with TSLA Stock?Only a few weeks ago, Cathie Wood was highly bullish on TSLA stock. In April, she said the company would“change the game,”comparing its innovations to those of Apple(NASDAQ:AAPL). Now, the investor has offloaded 15,000 shares of TSLA stock from the Ark Innovation ETF(NYSE MKTS:ARKK). 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While the small investment in General Motors is undoubtedly a win for the legacy automaker, it’s by no means a loss for Tesla CEO Elon Musk and his company.What It MeansIt’s not uncommon for funds like the Ark ETFs to reduce large holdings and take small positions in other companies. While the reduced position is by no means great news for Tesla, it won’t effect TSLA stock long-term. After all, the company recently reported an impressive quarter. It has plenty going for it. As InvestorPlace contributor Christian Docan notes, “strong operating performance, robust pricing power, and rising demand” will all come together to help TSLA pull ahead.TSLA stock has fallen recently due to bearish energy caused by market selloffs. Most companies tumbled last week. 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