Cathie Wood’s ARK Invest Sold Tesla Stock. Bulls Shouldn’t Worry.
Disruption-stock guru Cathie Wood has become an important voice for bullish Tesla investors, so when her ETF, ARK Innovation, buys or sells the shares, it is news. The risk for investors is overreacting.Closely following what is going in a favorite stock is a good idea. Responding to all the daily data points is less so.Wood’s ARK Innovation ETF sold more than $200 million in Tesla stock in recent days, based on data compiled from Bloomberg.Big sales are potentially alarming for bulls, but ARK’
$Tesla Motors$ rose nearly 5% in morning trading.Elon Musk confirms Tesla AI Day will be on August 19.In addition ,Last Thursday, Benzinga Proalerted its users Tesla hadfiled a patentthat would allow it to recover and recycle nickel and cobalt from old lithium-ion EV batteries.The patent, titled “Metal Sulfate Manufacturing System via Electrochemical Dissolution,” would allow the EV and technology company to recover the two crucial raw battery metals and reuse them making its supply chain more
$NIO Inc.$ was up over 2% in premarket trading. Days ago Nio subsidiary buys stake in chipmaker amid crippling global semiconductor shortage.What Happened: The move comes after Cambricon said Friday it has agreed to increase the registered capital of its wholly-owned subsidiary Cambricon Xingge by 170 million yuan and bring in investors, as per the report.Nio’s subsidiary Weiran Investment Co. Ltd. acquired a 2% stake in Xingge for RMB 4 million .Weiran is wholly owned by XPT, NIO's motor bus
NIO delivered 8,083 vehicles in June 2021, increasing by 116.1% YOY
NIO delivered 21,896 vehicles in the three months ended June 2021, increasing by 111.9% year-over-year. Cumulative deliveries of the ES8, ES6 and EC6 as of June 30, 2021 reached 117,597. NIO Inc., a pioneer and a leading manufacturer of premium smart electric vehicles in China, today announced its June and second quarter 2021 delivery results.NIO delivered 8,083 vehicles in June 2021, a new monthly record representing a robust 116.1% year-over-year growth. The deliveries consisted of 1,498 ES8s,