Why Tesla Shares Are Surging Despite No Change in Sales Fall

Cathie Wood Sells Tesla Stock As Chinese Rivals Gain Ground — Ark Dumps Palantir Amid Privacy Concerns - ARK Innovation ETF (BATS:ARKK), Palantir Technologies (NASDAQ:PLTR)

On Monday, Cathie Wood-led Ark Invest made significant trades, notably offloading shares of Tesla Inc. (NASDAQ:TSLA) and Palantir Technologies Inc. (NASDAQ:PLTR). The Tesla Trade: Ark Invest sold 1,594 shares of the Elon Musk-led company. For the day, Tesla shares closed at $342.69, making the trade, carried out through the ARK Innovation ETF (BATS:ARKK), worth $546,247. This move comes as Tesla faces stiff competition from Chinese electric vehi…

Why Tesla Shares Are Surging Despite No Change in Sales Fall

Tesla Motors’ share price has surged over $100 a share in less than two months despite continued evidence of sales and inventory difficulty worldwide. Even if consumers continue to avoid Tesla, the automaker’s business-to-business ventures, analysts believe, will displace the importance of Tesla-brand vehicle sales.